3.01%QQQQ 43.66 3.24%XLF 20.98 4.90%
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NEW YORK - Tyco Electronics Ltd. said Tuesday it will sell its radio frequency components and subsystem division to Cobham Defense Electronic Systems for $425 million in cash.
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The company said the sale is part of its effort to concentrate more on core businesses.
The unit, which designs, makes and markets products such as amplifiers, antennas and transistors, has about 2,000 workers in the U.S. and Europe.
The deal is targeted to close by the end of the year.
Bermuda-based Tyco Electronics split from diversified manufacturer Tyco International Inc. last year.
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