BATM Advanced Communications Limited's (LON:BVC) Zvi Marom talks to Proactive London about the sale of its subsidiary NGSoft, a software provider, for US$33mln (£23mln).
The company plans to use the funds for their 'core activity' to strengthen its innovation and commercialisation engine organically and through acquisition to boost core activities, especially in network function virtualisation and molecular diagnostics.
The buyer is Aztek Technologies, a provider of ICT cloud services in Israel and a portfolio company of private equity investor SKY Fund, which entered an option agreement concerning NGSoft in mid-January.