Los Angeles-based private equity firm The Gores Group said Tuesday that it has acquired the touch screen business of TE Connectivity, in a deal worth $380M in cash. Gores said it acquired TE Connectivity's Touch Solutions business, which supplies touch screens, touch monitors and all-in-one touch computers, under the Elo TouchSystems brand. The business is headquartered in Menlo Park, and had sales of $413M in fiscal 2011, according to Gores. Gores Group said it made the buy because of the "strong secular growth" happening in the touch screen industry.
Top NewsTuesday, April 10, 2012
Gores Group Buys Touchscreen Manufacturer