Francisco Partners agreed to acquire EF Johnson Technologies. The firm settled on a price of $1.05 a share for the Nasdaq-listed company, which designs and manufacturers wireless communications systems and products. The valuation represents just a slight premium to EF Johnson's $1.03 share price as of last Friday's close.
The deal comes as the company has struggled in recent years. For the full-year 2009, EF Johnson saw its sales slump to $92 million, down from $126 million in 2008, although the company was able to narrow its Ebitda loss from $16 million to $7 million year over year.