RF Monolithics, an industry leader in machine-to-machine (M2M) wireless communications, announced today that it has reached an agreement to be acquired by Murata Electronics North America for $1.78 per share to holders of RFM common shares. This price provides an 80% premium over the Nasdaq closing price as of April 12, 2012. The acquisition is scheduled to close during the third calendar quarter of 2012. Murata Manufacturing Co., Ltd, the parent company of Murata Electronics North America, is the world's premier supplier of passive electronic components.
The executives at RF Monolithics believe that this agreement will bring a significant premium to the company's shareholders, as the natural fit between the two companies allowed for the two sides to reach a favorable price. This acquisition adds RFM's solutions-driven, technology-enabled wireless connectivity for a broad range of wireless applications to Murata's already impressive electronics portfolio.
Farlin Halsey, President and CEO of RFM, stated, "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."
"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.
To learn more about RF Monolithics, visit www.rfm.com
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