April 16, 2012 - RF Monolithics will be acquired by Murata Electronics North America for $1.78 per share, 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 is Murata Manufacturing. 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.
About RFM
RF Monolithics, Inc., headquartered in Dallas, Texas, is a provider of solutions-driven, technology-enabled wireless connectivity for a broad range of wireless applications—from individual standard and custom components to modules for comprehensive industrial wireless sensor networks and machine-to-machine (M2M) technology.
About Murata Americas
Murata Americas reginal HQ is Murata Electronics North America, Inc., a wholly- owned subsidiary of Murata Manufacturing Co., Ltd., whose global headquarters are in Kyoto, Japan. Established in 1944, Murata is a worldwide leader in research, design, manufacture and sale of ceramic based passive electronic components, power supply and wireless module solutions.
With annual revenues in excess of $7 billion dollars,
