The Gores Group acquires touch screen manufacturer Elo Touch Solutions

The investment company The Gores Group has acquired the touch screen supplier, touch monitors and all-in-one touch computers, Elo Touch Solutions, TE Connectivity company, for the sum of 380 million dollars in cash.

The Gores Group has announced that through one of its subsidiaries it has completed and finalized the acquisition of Elo Touch Solutions by 380 million dollars. Anthony Guagliano, managing director of The Gores Group, has manifested: “The Gores Group is excited about the acquisition of Elo Touch Solutions. Elo has a long history of innovation, market leadership and financial success. We believe the Elo team will thrive as an independent entity and The Gores Group wants to help them achieve this”.

When commenting on the operation, Doug Means, CEO of Elo Touch Solutions, has expressed: “It is a pleasure for us to be part of The Gores Group. This is excellent news for the company., our employees and clients. The Gores Group has an impressive track record of profitably developing organizations, attracting and retaining top talent, investments in new products and improving customer experience. I am confident in the continued growth and prosperity of Elo Touch Solutions”.

For your part, Jonathan Huberman, managing director of The Gores Group, has pointed out that “The touch solutions industry enjoys strong growth driven by the widespread adoption of touch interfaces in commercial and consumer markets. As a leader in touch technology and products, Elo is in a very advantageous position to capture a large portion of that growth. We are confident that Elo's cutting-edge technology will continue to enter the market and look forward to partnering with the management team to better serve our customers and maximize the company's potential.”.