UTStarcom Holdings, a provider of media operational support services and broadband products and services, has completed a purchase and sale agreement with SoftBank America and Shah Capital Opportunity Fund on January 17, 2014.
SoftBank has sold its entire stake in the company to UTStarcom and Shah Capital, increasing Shah Capital's beneficial ownership in the Company from 17.2% to 21.9%.
SoftBank had been a major shareholder since October 1995, but had changed its investment strategy, leading to the move.
UTStarcom provides next generation media operational support services in TV over IP services and broadband equipment products and services. The company sells its media operational support services and broadband equipment products and services to operators in both emerging and established broadband and cable markets around the world.
UTStarcom was founded in 1991 and has traded on NASDAQ in 2000. It has operating entities in Tokyo, Hangzhou, Delhi and Bangalore in addition to the US.
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