FP-EF Holding, an affiliate of technology-focused private equity fund Francisco Partners, completed its acquisition of EF Johnson Technologies.
Under the terms of the merger agreement approved by stockholders, FP-EF Holding has acquired all of the outstanding shares of EF Johnson Technologies, based on a price of USD1.50 per share in cash.
"EF Johnson has a long history of providing quality products and services to customers in its core markets," says 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," adds 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."
Norman Stout will be the new chief executive officer of EF Johnson. He brings more than 20 years of technology experience to the position.
Headquartered in Irving, Texas, EF Johnson Technologies provides communications solutions to organisations 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 organisations.
