U.S. Robotics Acquires Majority Ownership From Solectron
Details of the sale to the privately held U.S. Robotics were not disclosed. Solectron, a Milpitas, Calif.-based electronics manufacturer, however, has recently sold off a variety of its assets in an attempt to reverse a pattern of extended financial losses.
For instance, Solectron recently sold its Force Computers embedded computing business to Motorola. In addition, Solectron, whose customers include Cisco Systems, Nortel Networks and NEC, recently also sold other assets including SMART Modular Technologies, Stream International and Kavlico.
U.S. Robotics executives were not immediately available. In announcing the acquisition, however, Joseph Hartnett, president and chief executive officer of U.S. Robotics, said the company would retain its employees, including executive management and account management teams. Hartnett also disclosed the company's supply chain infrastructure would remain intact, and existing distribution channels would remain in place.