Sale of company only one of Transcrypt options
On Thursday, March 29, one of the IWCE exhibitors mentioned that he had been approached by ING Barings on behalf of Transcrypt International to ask whether he might be interested in purchasing all or part of the company. Transcrypt’s Secure Technologies division manufactures encryption equipment, and its E. F. Johnson subsidiary manufactures radio communications equipment.
David Hattey, senior vice president and general manager for E. F. Johnson, confirmed that ING Barings continues under a previous arrangement to assist Transcrypt in seeking alternatives, including financing, equity investment and the sale of all or parts of the business.
“We also have a business plan to continue as a stand-alone company,” Hattey said. “Whichever way it goes, we’re here for the long term.”
Hattey said it is to be expected that ING Barings would be pursuing all aspects of their task aggressively.
“They don’t get paid unless they earn a commission on a transaction,” he said.