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January 11, 2013
16:45 EDTMLNKModusLink in advanced talks to sell Tech for Less operations
The company is increasing its focus on its core global supply chain and logistics business. As part of this focus, ModusLink intends to sell its Tech for Less operations and is in advanced discussions with a third party regarding a transaction. The company will continue to offer a strong remarketing capability to its clients through partnerships. Although the proceeds from a sale are not material to its cash position, ModusLink believes a sale would immediately improve the company's profitability. In fiscal 2012, the Tech for Less operations generated revenue of $25.9M and an operating loss of $11M.
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