SYDNEY - Cabletron Systems has announced it is selling its Digital Network Products Group (DNPG), which sells networking solutions under the DIGITAL brand name, to Gores Technology Group (GTG).
Piyush Patel, Cabletron Systems' chairman and CEO said exiting non-core businesses is a core element of Cabletron's transformation strategy.
"The sale of DNPG, together with other steps we have taken toaggressively sell or phase-out non-core businesses and products, puts us ahead of schedule for completing this phase of the transformation," Patel said.
"With a substantial portion of the clean-up behind us, we can continueto focus on our four new high-growth companies, Aprisma, Enterasys,GNTS, and Riverstone," he said.
The transaction is expected to close by the end of Cabletron's second fiscal quarter, and is subject to negotiation and execution ofancillary agreements.
According to a statement relating to the announcement, financial terms of the transaction are subject to nondisclosure obligations.