Vislink changes name, completes hardware division sale

Vislink confirms it has changed its registered name to Pebble Beach Systems Group, following the disposal of its hardware division to xG Technology Inc.

It would receive an initial consideration of $6.5m, along with loan notes for a principal amount of $9.5m. The deferred consideration was due to be paid within 45 days of completion.

In mid January, Vislink agreed to an amendment of the deal with xG Technology.

Regarding the name change, this was approved at the company's AGM on Feb. 2. Its new ticker would be PEB, from 08:00 BGM on Feb. 4.