Thursday, July 1, 2004
The U.S. Robotics management team has bought out Solectron, a move that will give the managers a majority stake in the modem/Wi-Fi manufacturer.
Since being spun out of 3Com several years ago, Solectron has owned a chunk of U.S. Robotics while 3Com and Accton Technology Corp. maintained a minority stake in the company. The buyout signals that U.S. Robotics is taking another step toward becoming a stand-alone player in the communication market.
Under terms of the deal, U.S. Robotics will retain its current employees, including the executive management and account management teams. Moreover, the company's supply chain infrastructure will remain intact, and existing distribution channels will be used for all current and future products.
3Com and Accton Technology will also retain their minority stake in the company.
By: DocMemory
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