Tollgrade Communications is selling its Cheetah cable status-monitoring product line to a private-equity group for $3.15 million.
The Cheetah status-monitoring product line, which Cheswick, Pa.-based Tollgrade purchased from Acterna LLC in 2003, is being acquired by a group of private-equity investors led by The Hawthorne Group and Rosetta Capital.
"As part of our strategic review process completed late last year, we determined that our embedded solution for HFC status monitoring was no longer core to our business," Tollgrade president and CEO Joseph Ferrara said in a statement. "We plan to focus more on our service assurance solutions and the data correlation aspects of test and measurement to allow our customers to reduce operating costs."
After the sale, the new company -- called Cheetah Technologies L.P. -- will be led by Stephen John as its CEO. Steven Santamaria will also join the company as a member of its management team, as will approximately 25 employees from Tollgrade.
The deal is expected to close by May 15. The transaction includes transfer of assets, assumption of specified liabilities, and assignment of customer and original equipment manufacturer agreements.