RF Monolithics to be acquired by Murata Electronics North America
April 16, 2012 // Jean-Pierre Joosting
RF Monolithics, Inc., (RFM), a leader in machine-to-machine (M2M) wireless communications, announced that it has entered into a definitive agreement to be acquired by Murata Electronics North America, Inc., for $1.78 per share to holders of RFM common shares, representing an 80% premium over the Nasdaq closing price as of April 12, 2012.
The acquisition is expected to close in the third calendar quarter of 2012. Murata Electronics North America’s parent company, Murata Manufacturing Co., Ltd., (Murata Manufacturing), is the world’s leading supplier of passive electronic components.
Farlin Halsey, President and CEO of RFM, stated, “We believe that the transaction with Murata Electronics North America offers a substantial premium to our stockholders. There is a natural fit between our two companies and we believe it was a significant factor in our outside directors’ ability to attain a favorable price for our stockholders.”
“RFM is very proud of its heritage. We owe our success to our talented and dedicated team at all levels. On behalf of management and RFM’s Board of Directors, I would like to thank all our dedicated employees for their hard work,” concluded Mr. Halsey.
“RFM’s proven success in developing business in the healthcare, energy and industrial markets complements Murata’s growth strategy. Additionally, leveraging RFM’s expertise in design and development of production-ready RF modules, SAW based and RFIC short-range radios, stand-alone radio systems and platforms for M2M applications will enable Murata to increase the value of the wireless module solutions delivered to Murata’s existing and future customers in the global marketplace,” said David M. Kirk, President and CEO of Murata Electronics North America, Inc., the Regional Headquarters of Murata Americas.
The transaction is subject to customary closing conditions, including shareholder and regulatory approvals.
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