An agreement has been reached whereby the Elektrobit Corp. (EB) has sold its business related to developing, producing and selling microwave technology-based measurement products and solutions for industrial use to Senfit Oy. The business, which was previously conducted by EB’s Mobile Terminal Solutions Business Unit, has been transferred to Senfit in accordance with EB’s strategy to concentrate solely on its core business.
The staff currently employed by Elektrobit in the microwave technology-based measurement products and solutions business sector will be transferred to Senfit with corresponding terms of employment. It is claimed that the agreement does not have a significant impact on EB's balance sheet or result and both parties have agreed not to publish the purchase price or other agreement terms.