Investment firm The Gores Group has acquired Elo Touch Solutions from TE Connectivity in a deal worth $380m.
Elo Touch Solutions, a global supplier of touchscreens, touchmonitors and all-in-one touch computers, is headquartered in California, US. In 2011, the company generated sales of $413m.
“The Gores Group is excited about the acquisition of Elo Touch Solutions, said Anthony Guagliano, MD of the group. “Elo has a long tradition of innovation, market leadership and financial success. We believe that the Elo team will thrive as an independent entity and The Gores Group looks forward to assisting them in doing so.”
Doug Means, CEO of Elo Touch, said the move was “great news” for the company, its employees and customers.
“The Gores Group has an impressive track record of growing organisations, profitability, attracting and retaining top talent, investing in new products and improving the customer experience,” he said. “I am confident in Elo Touch Solutions’ continued growth and prosperity.”
