Murata to acquire Resonant for $4.50 per share
Murata Electronics North America and RF filter solutions provider Resonant, have entered into a definitive agreement under which Murata will acquire all outstanding shares of Resonant not owned by Murata for USD 4.50 per share in cash.
The combination will allow both companies to expand their offerings and to access additional markets and customers. Resonant will become a wholly owned subsidiary of Murata and continue with its RF filter solution development.
“Resonant invented its proprietary XBAR technology, which is expected to achieve higher frequency and superior performance to other filter technologies. We have collaborated closely with Resonant for many years on the development of proprietary circuit designs using Resonant’s XBAR technology, and Resonant licensed to Murata rights for products in multiple specific radio frequencies in connection with our commercial partnership. We are confident Resonant’s innovation is a key strategic differentiator for the mobile industry. This transaction will deepen our existing partnership and position us to better meet our customers’ needs and expand opportunities for Murata,” says said Norio Nakajima, President of Murata, in the press release.
The transaction – which has been approved by both companies’ boards of directors – is expected to close by the end of March 2022, subject to the tender of a majority of Resonant’s shares.
“As part of the Murata team, we are looking forward to accelerating the integration of our XBAR technology into the Murata RF roadmap and delivering solutions with optimum RF performance. We have tremendous respect for Murata and look forward to accomplishing great things together,” says George B. Holmes, Chairman and CEO of Resonant.