CSPi Closes on Sale of Germany Operations

- July 31st, 2018

CSPi (NASDAQ:CSPI) has announced it has closed on the sale of its Germany operations for €10.0 million in cash. As quoted in the press release:  In addition, CSPi has received from Reply €2.3 million (approximately $2.8 million) in cash from the CSPi GmbH’s balance sheet at the time of the closing. Reply has acquired all of …

CSPi (NASDAQ:CSPI) has announced it has closed on the sale of its Germany operations for €10.0 million in cash.

As quoted in the press release:

 In addition, CSPi has received from Reply €2.3 million (approximately $2.8 million) in cash from the CSPi GmbH’s balance sheet at the time of the closing. Reply has acquired all of the outstanding stock of CSPi GmbH, along with all of its assets and liabilities, including its pension obligation.

CSPi will continue to operate its United Kingdom location to serve certain multinational clients.

Click here to read the full press release.

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