Tyco Electronics will sell its Power Systems business to The Gores Group LLC for $100 million in cash. The transaction is expected to close by the end of calendar 2007 or early in 2008. Tyco Electronics announced earlier this year its intent to sell its Power Systems business. In anticipation of the sale and beginning in the third fiscal quarter of 2007, the Power Systems business was classified as a discontinued operation and the results of the segment were reported accordingly.

Tyco Electronics Power Systems, with approximately 2,500 employees across 14 locations in eight countries, is a manufacturer of power solutions, including board-level conversion components and complete power conversion and backup power systems for telecom applications. Founded in 1987, The Gores Group, LLC is a private equity firm.