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Addvalue to sell subsidiary for $330m

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Published Tue, Mar 25, 2014 · 10:00 PM

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SATELLITE communications group Addvalue Technologies (Addvalue) is selling a wholly owned subsidiary, Addvalue Communications Pte Ltd (AVC), for $330 million in cash.

The group entered into a conditional sale and purchase agreement with an unrelated third party buyer on Monday, Addvalue said.

The buying company deals primarily with data security and related product development.

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