IFR to Sell Test & Measurement Division

WICHITA, Kan., July 2 -- IFR Systems Inc. has agreed to sell its Optical Test & Measurement Division to GN Nettest, a member of the GN Great Nordic Group of Copenhagen, Denmark, for approximately $43 million in cash. IFR president and COO Iain Robertson said, By significantly reducing the company's debt, this transaction will allow IFR to focus on longer-term growth opportunities in the electronic test and measurement market.
GN Nettest develops, manufactures and markets test equipment and systems to monitor and test tele/datacoms and fiber optic communications networks. GN Nettest comprises the Telecom Division, based in Bronby, Copenhagen, Denmark; the Datacom Division, headquartered in Toronto, Canada; and the Fiber Optic Division, with headquarters in Utica, N.Y.