UTStarcom is in the process of selling its mobile solutions business (MSB) unit to private equity firm OpenGate Capital.
UTStarcom’s MSB is responsible for the development, sales and services of wireless IP-based products that connect a cellular infrastructure to an IP network. According to UTStarcom, the restructuring programme is set to cut 700 jobs and is designed to make the company more focused on its other IP-based technologies such as internet protocol TV (IPTV), next-generation networks and broadband. The company has not disclosed the financial details of the deal.
