TE Connectivity to sell touch solutions business to Gores Group for $380 million

Telecom Lead America: TE Connectivity is set to sell its
Touch Solutions business to the Gores Group for $380 million. 

TE Connectivity will also sell its TE Professional
Services (TPS) business to BlueStream Professional Services, an affiliate of
KGP Logistics, for $23.5 million. 

Both transactions are expected to close in the Company’s
third fiscal quarter of 2012.

The company expects to recognize in discontinued
operations an after-tax loss in its fiscal second quarter of approximately $20

Touch Solutions, which was part of TE’s Communications
and Industrial Solutions segment, supplies touch screens, touch monitors and
touch computers under the Elo TouchSystems brand. The business generated
sales of $413 million in fiscal 2011.

TPS, acquired as part of TE’s acquisition of ADC in
December 2010, is part of TE’s Network Solutions segment. TPS provides
engineering, furnishing and installation services to communication service
providers. TE reported sales of $121 million in fiscal 2011 for the TPS

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