RF Monolithics adds wireless capabilities with 2 acquisitions
Staff -- Control Engineering, 10/1/2006
RF Monolithics Inc. (RFM) made two wireless company acquisitions—Cirronet Inc., a wireless data communications and networking company, and Caver-Morehead Systems Inc., a computerized maintenance management systems vendor. Both are privately held companies. The move is said to give RFM a suite of hardware, protocols, software, and related services to allow users to implement and deploy value-added applications and smart services in their operations.
The Cirronet acquisition is valued at roughly $24 million in cash and stock, including approximately $4.8 million subject to the attainment of performance goals after closing. The Caver-Morehead deal is valued at about $4 million, all cash including up to $2 million subject to earn out. RFM expects the two acquisitions to contribute $14 to $16 million in combined sales during the next fiscal year.
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