U.S. industrial conglomerate Dover Corp said it will spin off some of its communication technologies businesses into a publicly traded company named Knowles Corp.
The businesses make microphones, speakers, receivers and transducers, among other communication products.
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"Given the evolution of their unique business model, these businesses can now pursue a more aggressive growth strategy together as a standalone company," Chief Executive Robert A. Livingston said in a statement.
Dover's other products include industrial pumps, oil and mining drilling tools and food packaging equipment.
(Reporting by Mridhula Raghavan in Bangalore; Editing by Don Sebastian)