UTStarcom said yesterday that private equity firm OpenGate Capital will acquire its mobile solutions business, which makes IP-based GSM/CDMA wireless solutions that connect a cellular infrastructure to an IP network. The business will be renamed Star Solutions. Financial terms of the deal were not released, but UTStarcom said it expects the transaction close in about three weeks, AP reports. Now that the company has sold that unit, it says that it will be able to focus on other IP-based technologies such as IPTV, and next-generation networks and broadband. Release.

In addition, UTStarcom appointed Peter Blackmore as the company’s CEO, succeeding Hong Liang Lu as planned. Liang Lu who will become the company’s executive chairman of the board. Release.

About OpenGate Capital:

OpenGate is an opportunistic private equity firm that acquires companies and divisions of companies from all over the world. Established in 2005, OpenGate Capital has a global presence with headquarters in Beverly Hills, CA, and a principal office in Paris, France.

For more information on OpenGate Capital, please visit our website at www.opengatecapital.com.