Aug 31 (Reuters) - Microelectronics company HEI Inc HEII.O said it has agreed to sell assets of its RFID division to a U.S-based unit of Dutch technology company Smartrac (SM7.DE) for $3 million in cash.
HEI expects to recognize a gain of about $1.5 million in the fourth quarter, before deal-related costs, and expects to use the proceeds to pay debt. (Reporting by Jennifer Robin Raj in Bangalore)
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