Francisco Partners Management LLC, a private equity firm, has sold EF Johnson Technologies, Inc., a developer and marketer of communications solutions to organizations, to JVC Kenwood Corporation. All the entities are based in the US.
JVC Kenwood is a holding company with operations in car electronics business, home and mobile electronics business, professional systems business and entertainment business.
Announcement (January 31, 2014):
Francisco Partners has entered into a definitive agreement to sell EF Johnson to JVC Kenwood.
Raymond James & Associates, Inc. is acting as financial advisor to EF Johnson.
The transaction is expected to close in the first quarter of 2014.