Private Equity Firm Buys UTStarcom’s mobile business; Renames It Star Solutions

UTStarcom said yesterday that private equity firm OpenGate Capital will acquire its mobile solutions business that makes IP-based GSM/CDMA wireless solutions that connect a cellular infrastructure to an IP network. The business will be renamed Star Solutions. Financial terms of the deal were not released, but UTStarcom said it expects the transaction close in about three weeks, AP reports. Now that the company has sold that unit, it says that it will be able to focus on other IP-based technologies such as IPTV, and next-generation networks and broadband. Release.

In addition, UTStarcom appointed Peter Blackmore as the company’s CEO, succeeding Hong Liang Lu as planned. Liang Lu who will become the company’s executive chairman of the board. Release.

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