Gores Group Buys Biz from TE Connectivity

Electronic connector maker TE Connectivity Ltd said it will sell its touch solutions business to private equity firm Gores Group for $380 million, Reuters reported. The business, which makes touch screens and touch computers, had revenue of $413 million in fiscal 2011.

(Reuters) – Electronic connector maker TE Connectivity Ltd said it will sell its touch solutions business to private equity firm Gores Group for $380 million.

 

The business, which makes touch screens and touch computers, had revenue of $413 million in fiscal 2011.

 

The company, formerly known as Tyco Electronics, also said it will sell its professional services business — which provides engineering, furnishing and installation services to communication service providers — to an affiliate of KGP Logistics for $23.5 million.