Motorola Inc. has agreed to sell its Multiservice Networks Division (MND) to private equity firm Platinum Equity, Motorola announced Thursday.
MND offers WAN (wide area network) services including network design, implementation, integration and management. Last year, for example, MND announced it would build a network to carry data, voice, fax, and video for the 90-plus retail locations of 99 Cents Only Stores.
MND services customers around the world and has about 600 employees, Motorola said in a statement.
Details of the deal, part of Motorola's operation to refocus on its core business, were not disclosed. Platinum Equity plans to maintain MND's headquarters in Mansfield, Massachusetts. The operational strategy for MND will be announced after completion of the transaction, which is expected before the end of this year, according to Motorola.
Platinum Equity specializes in acquiring and operating technology companies and has completed over 30 transactions since its inception in 1995, Motorola said.