EFJ buys 3e Technologies International
- By William Welsh
- Jul 11, 2006
EFJ Inc. has acquired 3e Technologies International Inc., a wireless security company, for $36 million in cash.
The acquisition gives EFJ of Irving, Texas, a portfolio of secure wireless products for public safety and public service.
"3eTI is a strong fit for EFJ Inc.," said EFJ Chairman and CEO Michael Jalbert in a statement announcing the buy. "3eTI brings secure wireless data to our private wireless business and strengthens the market position of our secured communications segment with digital data security."
3eTI of Rockville, Md., has 95 employees and had annual sales of about $24 million for the 12-month period ending May 31. It makes security features for wireless platforms such as wireless fidelity, mesh networking and Bluetooth. The company also develops secure wireless infrastructure that meets federal information processing and wireless networking standards.
EFJ will pay for the purchase with $21 million cash and a $15 million term loan, the company said.
William Welsh is a freelance writer covering IT and defense technology.