Tii Network Technologies, an Edgewood-based maker of broadband and voice communications devices, has paid $8.15 million for the brand name and copper products division of Porta Systems, another maker of telecom devices in Syosset.
Both companies products include safety devices, such as surge protectors and intrusion detectors. While Tii focused on the residential market, Porta specialized in the commercial sector. Porta had run into net income losses two years ago before making gains last year.
“We can introduce our products and technologies into different segments of the same markets,” Tii chief Kenneth A. Paladino (above, left) said. “Most importantly, we picked up two channels, one into the U.K. (United Kingdom) and one into Mexico. It launches Tii into a truly multinational company.”
Tii also sold some assets acquired in the deal — $2.5 million for raw materials and majority stake in Porta’s Mexican subsidiary, a manufacturing plant.
In a statement, Porta’s chief Ed Kornfeld said what remains of his company, a division that makes devices for the defense and aerospace industries, has changed its name to North Hills Signal Processing Corp.
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