Teleste says the divestment of its services business in Switzerland will sharpen its focus on its Broadband Networks’ technology business.
Last year Teleste Network Services SA reported net sales of CHF 5.4 million (€5.51 million) and has 34 employees. The buyers and Teleste have agreed not to disclose the transaction value.
“Teleste continues to provide its Broadband Networks products and technologies to the Swiss customers both directly and via its sales partner network, and this divestment has no impact on our product deliveries and deployments. We look forward to fostering our traditionally strong presence in Switzerland,” said Mika Kavanti, Vice President of Sales, Broadband Networks, Teleste
The operations of Teleste Network Services SA will continue unchanged under the new ownership.