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Cobham sells communications units to Viavi for $455 million​

Reuters - UK Focus

LONDON, Feb 2 (Reuters) - British aerospace and defence electronics group Cobham (Other OTC: CBHMF - news) said on Friday it has agreed to sell its AvComm and Wireless test businesses to Viavi Solutions (Frankfurt: UNS1.F - news) for $455 million, as part of the latest stage of a turnaround plan.

Cobham, which had said in August that it may divest the units, plans to use the proceeds to reduce debt.

Communications equipment maker AvComm is based in the U.S., while the Wireless unit, which does 5G mobile network testing, is based in Britain, said Cobham, adding that the deal is expected to complete in the first half of this year. ​ (Reporting by Sarah Young, editing by James Davey)