Resideo Closes USD 87.5m Sale of Genesis Cable Business.
MANews-(C)2009-2023
US-based manufacturer Resideo Technologies, Inc. (NYSE: REZI) has completed its sale of its Genesis Cable business to Southwire Company, LLC for USD 87.5m in cash, subject to customary purchase price adjustments, the company said.
The after-tax proceeds will be used to support Resideo's capital allocation strategy which includes ongoing organic and inorganic investments and the recently announced share repurchase program.
Resideo is a leading global manufacturer and developer of technology-driven products and components that provide critical comfort, energy management, and safety...
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