Vecima Networks has sold some real estate for approximately $3.6 million. The company has shed non-core assets in a series of sales over the last year or so.
The most recent transaction was the sale of 40 acres of land in Saskatoon.
Including this sale, Vecima has sold four non-core real estate holdings over the past two and a half years for net proceeds of $10.5 million. Over the same timeframe, the company has also sold approximately $31.5 million of radio spectrum licenses.
After these sales, Vecima said it still has approximately $30 million to $35 million in real estate holdings, as well as $10 million to $15 million in radio spectrum licenses.
The company is in the midst of a transition from older products to a new generation of technology, including video processing technology.
The company dumps more real estate to raise cash as it transitions to a new generation of technology.