Owings Mills, Maryland-based Aether Systems is selling its enterprise mobility business division to TeleCommunication Systems Inc. of Annapolis for $19 million.
Both parties hope to finalize the deal in early January, Aether officials said.
TCS will acquire the portion of Aether's business that focuses on wireless data solutions for large enterprise customers, including the Aether Systems Ltd. business in Europe. Aether will continue to own and operate its Transportation and Mobile Government divisions.
Although the division reported revenues of $40 million for the first nine months of the year, Aether has been under pressure from Wall Street to reach profitability, and the sale will help mitigate its cash burn.
