Elotouch aka TE Touch Solutions Acquired


TE Connectivity

TE Connectivity (Photo credit: Wikipedia)

LOS ANGELES, CA, APRIL 10, 2012 -- The Gores Group, a leading Los Angelesā€based private equity firm, today announced that through an affiliate it has signed  a definitive agreement to acquire TE Connectivity's Touch Solutions business for $380 million in cash.

Enhanced by Zemanta
The Touch Solutions business is a global supplier of touch screens, touch monitors and all-in-one touch computers that are marketed under the Elo TouchSystems brand. Elo TouchSystems, which is widely recognized as the preeminent brand in the touch systems industry, is well known for delivering a superior breadth of offerings and for the quality
and reliability of its products. Headquartered in Menlo Park, California, the business generated sales of $413 million in fiscal 2011.

The Gores Group noted that the touch systems industry is enjoying strong secular growth driven by the mainstream adoption of touch interfaces and proliferation across
commercial and consumer vertical markets.

"As a pioneer and global leader in high-performance touch solutions, Elo TouchSystems is a compelling addition to The Gores Group portfolio of companies," said Ryan Wald,
Managing Director of M&A for The Gores Group. "Elo TouchSystems is well positioned in the industry because of its premier brand name and strong relationships with customers
and channel partners. We plan to expand its offerings through investment in organic growth and strategic acquisitions."

Tim Meyer, Managing Director of Operations for The Gores Group, added "Elo's leadership position and strong technology and product portfolio provide an excellent growth platform. We look forward to partnering with management to achieve the full potential of the business."

The transaction is subject to customary regulatory approvals and is expected to close in the second calendar quarter.


Enhanced by Zemanta

About this Entry

This page contains a single entry by Staff published on April 13, 2012 8:17 AM.

Study: Kiosks, digital signs can help keep consumers in store was the previous entry in this blog.

TE Connectivity Announces Agreements to Sell its Touch Solutions and Professional Services Businesses is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.

Categories

Pages

Powered by Movable Type 5.12