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EFJ Acquires 3e Technologies International
EFJ Inc. announced that it acquired 3e Technologies International (3eTI), a privately held, Maryland-based company. 3eTI is a technology company that offers security solutions for wireless platforms such as WiFi, mesh networking and Bluetooth. 3eTI also develops and sells secure wireless infrastructure that meet Federal Information Processing Standards, FIPS 140-2 validated 802.11i-compliant wireless networking standards.
3eTI was founded in 1995 and currently has 95 employees located in the US and Taiwan. For the 12-month period ended May 31, 2006, 3eTI had revenues of approximately $24 M. 3eTI also provides security solutions for wireless sensor networks, radio frequency identification (RFID), wireless video surveillance and location-based context-aware solutions based on its wireless application middleware.
"We are pleased to announce the acquisition of 3eTI,” said Michael E. Jalbert, EFJ Inc. chairman and chief executive officer. “3eTI is a strong fit for EFJ Inc. This acquisition adds to our portfolio of secure wireless products for public safety and public service. 3eTI brings secure wireless data capability to our private wireless business and strengthens the market position of our secured communications segment with digital data security. We believe the market opportunity for 3eTI's products and technologies is significant. To take advantage of this growth opportunity, 3eTI has developed a strong partnership with Cisco Systems. We look forward to continuing that partnership. We anticipate this transaction being accretive to our earnings per share in 2007."
"3e Technologies has been, and will continue to be an important wireless security solutions partner for Cisco," said Brett Galloway, vice president and general manager, Wireless Networking Business Unit at Cisco Systems Inc. "We look forward to continuing our successful relationship solution-selling EFJ offerings with our Unified Wireless Network products."