Murata Announces Investment in and Signing of Collaboration Agreement with RF Monolithics, Inc.
Smyrna, GA, August 24, 2010 - Two important agreements were signed today between RF Monolithics, Inc. (NASDAQ: [RFMI], “RFM”) and Murata Manufacturing Co., Ltd. (“Murata”). In the first agreement, Murata, through its North American subsidiary, Murata Electronics North America, Inc., has invested approximately $700,000 in RFM common stock.
In the second agreement, RFM and Murata signed a comprehensive “Business & Technical Collaboration.” The agreement covers a number of common interest areas to provide additional products and services to our customers and to deploy resources to assist in this effort. The initial effort will focus on each company’s wireless solutions product portfolios, but wireless component products will also be considered for collaboration. Each Company will provide resources to consider and implement the precise details of the collaborative effort.
We are excited about collaborating with such a fine company as RFM and feel both companies will benefit. This involves a wide variety of opportunities, including those in the emerging M2M, Smart Energy and Healthcare markets. Combined, we believe both companies have the broadest range of wireless solutions available in the market.
Both companies intend to continue aggressive development of new products using our independent sales and marketing resources to promote them. We believe the Smart Energy marketplace in particular offers a very large and attractive opportunity to grow our business. The collaboration agreement with RFM will significantly assist us in doing that and more.
Questions and Answers
Who is 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 standardized 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 http://www.RFM.com.
If I have further questions, who can I contact?
John Denslinger, Sr Vice President, Murata Wireless Solutions
Yoshihiro Nishida, Treasurer, Murata Electronics North America