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EFJ buys developer of wireless security solution

Posted: 14 Jul 2006 ?? ?Print Version ?Bookmark and Share

Keywords:EFJ? wireless communications? 3e Technologies International? 3eTI? security solution?

EFJ Inc., a developer of wireless communications solution, announced that it has acquired 3e Technologies International (3eTI), a provider of security solutions for wireless platforms such as WiFi, mesh networking and Bluetooth.

According to the press release, EFJ acquired 3eTI for cash of $36 million. The purchase price includes approximately $5 million to satisfy certain liabilities of 3eTI and approximately $3.6 million being held in escrow for potential indemnification claims.

Michael Jalbert, chairman and CEO for EFJ, said that 3eTI is a strong fit for EFJ. "This acquisition adds to our portfolio of secure wireless products for public safety and public service. 3eTI brings secure wireless data capability to our private wireless business and strengthens the market position of our secured communications segment with digital data security," Jalbert said in a statement.

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