TE Connectivity completes the sale of its subsea communications business

TE Connectivity has completed the previously announced sale of its subsea communications business (SubCom) to Cerberus Capital Management, L.P. for $325 million in cash. The company expects to use proceeds from the sale to fund share repurchases. 

The sale of SubCom increases TE’s focus as a leading industrial technology company and is expected to strengthen its business model; resulting in a stronger growth profile, reduced cyclicality, higher margins and a greater return on investment.