KYOTO, April 14, 2012 – Murata Manufacturing Co., Ltd. (TOKYO:6981) (ISIN:JP3914400001), the world’s number one supplier of passive electronic components, announced today that Murata Electronics North America, Inc., its full subsidiary has signed a definitive agreement to acquire RF Monolithics, Inc. (NASDAQ: RFMI) in an all cash transaction. Targeted to close in the third calendar quarter of 2012, the deal will pay the holders of RFM common shares $1.78 per share.
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.
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. For more information on RF Monolithics, Inc., please visit the Company's website at www.RFM.com.
About Murata Americas
Murata Americas regional 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, Murata is committed to the environmentally conscious development and stable supply of advanced electronic materials, leading edge electronic components, and multi-functional, high-density modules. Products include: monolithic ceramic capacitors, polymer aluminum electrolytic capacitors, electric double layer energy device (EDLC), noise suppression products/EMI suppression filters, inductors, resistor products, resonators, filters, RF components, communication and wireless module solutions, sensors, thermistors, DC-DC converters, AC-DC power supplies, sound components, piezo actuators, micromechatronics products, ceramic applied products, and RFID solutions. Murata's products are found in a wide range of applications including consumer, mobile communications, computers and networking equipment, automotive electronics, advanced metering equipment, digital home electronics, lighting and illumination, and healthcare devices. Murata has employees and manufacturing facilities throughout the world. Additional information about Murata Americas can be found at www.murataamericas.com
"Forward-Looking" and "Safe-Harbor" Statements are omitted