WFI pulls out of region

Wireless Facilities (WFI) has sold its European business to LCC International for US$4million in cash.

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By  Administrator Published  March 15, 2007

Wireless Facilities (WFI) has sold its European business to LCC International for US$4million in cash.

The business covers the whole of Europe, the Middle East and Africa (EMEA) and provides systems engineering, network services and technical outsourcing for wireless carriers, enterprises and government agencies.

It employs 350 staff in EMEA, all of which are expected to transfer to the new owner on completion of the deal — slated for the first quarter of this year.

“The sale of WFI’s EMEA business is consistent with our strategy of focusing our business even more directly on the growing domestic opportunities in our industry,” said Eric DeMarco, president and CEO of WFI. “LCC has an established critical mass in Europe that can more effectively support a profitable operation in this region.”

WFI, which has operated in the region for eight years, posted revenues of around US$17million in EMEA last year.

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