TE Connectivity (TEL -0.8%) agrees to sell two of its business units in separate deals with a...

|About: TE Connectivity Ltd. (TEL)|By:, SA News Editor

TE Connectivity (TEL -0.8%) agrees to sell two of its business units in separate deals with a combined value of ~$400M: its touch-screen business to PE firm Gores Group for $380M, and its TE Professional Services to a unit of KPG Logistics for $23.5M. TEL cuts its Q2 outlook as it expects to record a $20M loss from the transactions.