mlkrborn
13 years ago
Murata to purchase RF Monolithics for $19.6M
RF Monolithics agrees to $19.6M buyout offer from affiliate of Japan's Murata Manufacturing
Associated PressAssociated Press – 1 hour 17 minutes ago
Companies:
RF Monolithics Inc.
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RFMI 1.72 0.74
Fantasy Finance
DALLAS (AP) -- RF Monolithics Inc., which makes wireless connectivity products, has agreed to a buyout offer of about $19.6 million from the North American division of Japanese electronics component supplier Murata Manufacturing Co,
The Dallas-based company said Murata Electronics North America Inc. has offered to pay $1.78 per share for RF Monolithics' shares, an 80 percent premium over Thursday's closing price of 99 cents.
RF Monolithics currently has about 11 million outstanding shares, according to FactSet.
RF Monolithics' stock jumped 75 cents, or 75.6 percent, to $1.73 in morning trading on Friday.
"RFM's proven success in developing business in the healthcare, energy and industrial markets complements Murata's growth strategy," said David M. Kirk, president and CEO of Murata Electronics North America.
The deal requires shareholder and regulatory approvals. The transaction is expected to close in the third quarter.
jmhollen
21 years ago
timhyma feels that following RFMI may be another way to invest in the satellite radio market. These guys sell to both SIRI and XMSR.
DALLAS, Jul 10, 2003 (BUSINESS WIRE)
RF Monolithics, Inc. (RFM) (Nasdaq:RFMI) today announced it had reached a milestone in its support of the satellite radio market with the shipment of its one millionth intermediate frequency (IF) surface acoustic wave (SAW) filter used in satellite digital radio receivers (SDAR).
RFM's filters represent state-of-the-art in SAW design and provide the desired intermediate frequency filtering solution for satellite radio receivers. RFM has developed multiple filter products for the satellite digital radio receiver market and supplies a set of four IF SAW filters for current generation satellite digital radio receivers. SIRIUS (Nasdaq:SIRI) and XM Satellite Radio (Nasdaq:XMSR) are the two North America satellite radio service providers. RFM is working with these providers and radio manufacturers on products for next generation chipsets that will allow consumers to choose between satellite services.
'RFM's SAW filters are renowned for their technical benefits including low insertion loss, flat passband, high rejection and small size, all of which are essential elements of satellite radio receivers,'stated Dr. Jidong Dai, Executive Director of RFM's Communications Products Group. 'The satellite radio is one of the newest applications for our SAW filter products and is exciting for several reasons, but especially due to its fit into the automotive market, a market with which RFM is very familiar and in which it has a long history of success. We are pleased to be part of this phenomenal growth market and to be associated with the industry leaders in the satellite digital radio field.'
About RFM
RFM, headquartered in Dallas, is a leading developer, manufacturer and supplier of a broad range of radio frequency components, and modules based on surface acoustic wave technology for the automotive, telecommunication, industrial, medical, consumer and distribution markets worldwide. Find out more about RFM by visiting our website: www.rfm.com.
SOURCE: RF Monolithics, Inc.
RF Monolithics, Inc., Dallas Carol Bivings, 972-448-3767
http://www.businesswire.com
http://www.smallcapcenter.com/snapshot_newsrelease.asp?component=compinfo.asp&page=snap_newsrele....
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Renee
12 years ago
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