IRVING, Texas, Aug. 13 /PRNewswire-FirstCall/ -- EF Johnson
Technologies, Inc. (Nasdaq: EFJI) today announced that FP-EF
Holding Company, Inc., an affiliate of Francisco Partners, a global
technology-focused private equity fund, has completed its
acquisition of EF Johnson Technologies, Inc. Under the terms of the
merger agreement approved by stockholders, FP-EF Holding Company
has acquired all of the outstanding shares of EF Johnson
Technologies, based on a price of $1.50 per share in cash.
"EF Johnson has a long history of providing quality products and
services to customers in its core markets," said Ashutosh Agrawal, Principal at Francisco
Partners. "We are looking forward to partnering with the Company's
management team to provide our customers with leading products, and
the industry's best customer experience."
"The EF Johnson team is excited to be joining Francisco
Partners," said Michael E. Jalbert,
the outgoing Chairman and Chief Executive Officer of EF Johnson
Technologies. "Our extensive technology capabilities and shared
focus on customer service create a compelling offering in this
growing industry."
"I'm looking forward to leading the EF Johnson team as it
pursues its strategic goals and continues to focus on providing the
highest quality secure communications solutions for its customers,"
said Norman Stout, the incoming
Chief Executive Officer. Mr. Stout brings more than 20 years'
of technology experience to the position.
About EF Johnson Technologies, Inc.
Headquartered in Irving, Texas,
EF Johnson Technologies, Inc. focuses on innovating, developing and
marketing the highest quality secure communications solutions to
organizations whose mission is to protect and save lives. The
Company's customers include first responders in public safety and
public service, the federal government, and industrial
organizations. The Company's products are marketed under the
EFJohnson, 3e Technologies International, and Transcrypt
International names and are Made in America. For more information,
visit http://www.EFJohnsonTechnologies.com.
About Francisco Partners
With approximately $5.0 billion of
committed capital and offices in San
Francisco and London,
Francisco Partners is one of the world's largest technology-focused
private equity funds. The firm was founded to pursue structured
investments in technology companies undergoing strategic,
technological, and operational inflection points. Francisco
Partners targets majority and minority investments in private
companies, public companies, and divisions of public companies. The
principals of Francisco Partners have a proven track record, having
invested in excess of $4.0 billion of
equity capital in over 50 technology companies. For additional
information, visit www.franciscopartners.com.
SOURCE EF Johnson Technologies, Inc.
Copyright . 13 PR Newswire