The Swisscom telecommunications operator has sold off its 51 per cent stake in the paging specialist, All Wireless, to the SwissConnexx company. The deal is backdated to take effect from January 1.
The agreement will leave SwissConexx, which also operates in the telecommunications field, as the sole shareholder of All Wireless's TELEPAGE provider.
Swisscom said on Friday that the sale was a logical step because All Wireless's area of operation did not form part of its core businesses. No financial details have been disclosed.
A statement said that in the future, All Wireless would not only focus on paging, but would also become involved in the marketing of other telecommunications products and services in the security area.
It added that over the next 18 months, All Wireless would be investing several million francs in the complete digitisation of its telecommunications networks and in the development of new products.
swissinfo with agencies
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