Cirtek Holdings Philippines Corporation (PSE: CIR) has announced that it is selling its antenna solutions business, Quintel USA, Inc., to John Mezzalingua Associates, LLC (JMA), according to a disclosure filed with the Securities and Exchange Commission on June 16, 2026.
What Is Cirtek Selling?
Think of Cirtek like someone who owns several different stores. One of these stores is called Quintel, which makes special antennas used in wireless communications—the technology that helps our phones and internet work. Cirtek has decided to sell this Quintel store to another company called JMA, which also works in the wireless equipment business.
What’s Being Sold?
According to the Asset Purchase Agreement, JMA will buy almost everything from Quintel’s business, including:
- Customer contracts (agreements with people who buy from them)
- Intellectual property (special designs and ideas they own)
- Inventory (products they have in stock)
- Accounts receivable (money that customers still owe them)
- Product-related records and other operating assets
JMA will also take over some of Quintel’s debts and responsibilities that come with the business.
How Much Is the Sale Worth?
The total purchase price is approximately US$5.3 million, though the final amount depends on certain debts that need to be calculated. Here’s how the payment will work:
- $3.3 million will be paid within 14 days after the sale is completed
- $2.0 million (approximately) will be paid later, about four months after they finish calculating all the debts
Why Is Cirtek Selling Quintel?
Antonio Callueng, President of Cirtek Holdings, explained that this sale is part of the company’s plan to focus on businesses that have better chances for growth and making money in the long run. It’s like when you decide to focus on your best subjects in school instead of spreading yourself too thin across everything.
The company described this as “portfolio optimization and resource alignment,” which simply means they’re organizing their businesses better and putting their money and effort where it can work best.
What Will Happen to the Money?
According to the disclosure, Cirtek plans to use the money from this sale to:
- Improve financial flexibility (having more freedom with their money)
- Reduce obligations (pay off debts)
- Reinforce shareholder value over time (make the company worth more for people who own its stock)
What Happens Next?
JMA will continue operating the Quintel business and serving its customers in the wireless communications infrastructure market. Cirtek and JMA will work together to make sure the transition goes smoothly—transferring customers, designs, and other assets properly.
After this sale is complete, Cirtek will continue looking for ways to improve how it operates, strengthen its cash position, and create more value for its shareholders through its remaining businesses.
The sale still needs to meet certain standard conditions before it’s finalized, as stated in the agreement.
About Cirtek Holdings
Cirtek Holdings Philippines Corporation is a publicly listed company on the Philippine Stock Exchange with SEC Identification Number CS2011102137. The company is based in Laguna Technopark, Biñan, Laguna, and has 668,505,825 common shares outstanding.
Source Note:This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.
