Arris Group has sold its Electronic Connecter Corp. subsidiary to Eclipse Embedded Technologies.
Terms of the transaction were not disclosed. Chicago-based ECCO specializes in niche electronic connectors and accessories, which it sells to manufacturers and distributors worldwide as well as to the U.S. government. Eclipse Embedded Technologies, based in South Barrington, Ill., provides a range of integrated circuit, embedded software and electronics design services.
"This transaction represents a win-win outcome for all involved. Arris is very pleased with the results and we also believe that Eclipse is a strong fit for Chuck [Engvall, ECCO's chief operating officer] and his team," Larry Margolis, Arris executive vice president of strategic planning and administration and chief counsel.
Eclipse founder Bernard Gizzi added, "The financial stability and industry tenure of ECCO is impressive. Going forward, I will be working with Chuck to support the further growth of the company as we meet the ever increasing needs of our customers and suppliers for new product design, innovation, and business expansion."
Dresner Partners, a middle-market investment bank based in Chicago, advised Arris on the ECCO divesture.
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