LONDON Embedded boards and software specialist Mercury Computer Systems Inc. (Chelmsford, Mass.) has sold its Visualization Sciences group (VSG) to Toulouse, France based private equity firm IRDI-ICSO for $12 million upfront, plus up to $2.5 million in possible earn-outs.
The VSG operation provides 3D visualization tools.
"With this transaction, we have successfully met our goal of portfolio rationalization completion before fiscal year-end," said Mark Aslett, President and CEO of Mercury Computer Systems.
Aslett added the match of VSG with IRDI-ICSO could better provide the necessary financial support to build on VSG's growing business in the 3D visualization sector.
All VSG employees and customer commitments transition with the sale. The existing management team will also remain intact, ensuring that business operations will continue uninterrupted, added Aslett.
For fiscal 2008, Mercury reported a loss of $35 million on revenue of $209.9 million.
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