May 18, 2010 (FinancialWire) — EF Johnson Technologies, Inc. (NASDAQ: EFJI) said that it has entered into a definitive agreement for the company to be acquired by an affiliate of Francisco Partners, a technology-focused private equity fund.

The agreement was unanimously approved by EF Johnson Technologies' board of directors.

Under the terms of the agreement, stockholders would receive $1.05 per share in cash at closing. The transaction is subject to normal regulatory approvals, approval by EF Johnson Technologies' stockholders and other customary closing conditions, and is expected to close during the third quarter of the year.

Texas-based EF Johnson Technologies develops and markets secure communications solutions to customers including first responders in public safety and public service, the federal government, and industrial organizations.

The company's products are marketed under the EFJohnson, 3e Technologies International, and Transcrypt International names and are made in America.

Francisco Partners, which has offices in San Francisco and London, is a technology-focused private equity fund that was founded to pursue structured investments in technology companies undergoing strategic, technological, and operational inflection points.

Francisco Partners targets majority and minority investments in private companies, public companies, and divisions of public companies.

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