SPOKANE, Wash.-Itronix Corp., a developer of rugged wireless computing systems, announced it will be acquired by Golden Gate Capital, a $700 million private equity firm, for $40 million. Plans for the acquisition, which will allow Itronix to function as an independent private company, were initially made in August but are now official following approval from the U.S. Bankruptcy Court for the Southern District of New York.
“The ‘new Itronix’ is a privately held, well-capitalized company with great customers, best-in-class wireless, rugged products and services, and an outstanding team of people at the management level and throughout the organization,” said Tom Turner, Itronix’ president and chief executive officer. “I am confident that our independent status will lead to even greater opportunity and growth for Itronix.”
