Teleca divests remaining product business & adjusts guidance

Via Acquire Media NewsEdge) Teleca divests remaining product business & adjusts guidance Malm?, Sweden ? October 13, 2008 ? Teleca, a world-leading supplier of software services to the mobile industry (Nordic Exchange, Small cap: TELC B), today announces the divestment of its product business. o Teleca divests 95% of its shares in its product business with a related services business in Korea for about SEK 56 million in cash. The transaction is conditioned by fulfillment of some customary conditions. The transaction is expected to close before year-end. o The net result including transaction cost and provisions is estimated at SEK 25 million. In connection with this transaction combined with the focusing of the company we expect restructuring charges of up to SEK 25 million in Q4 2008 which will offset the net result of SEK... [read full story]