RF Monolithics adds wireless capabilities with two acquisitions
Dallas, TX— RF Monolithics Inc . (RFM) says it made significant strides toward becoming a source of comprehensive wireless systems with two acquisitions last week. The company signed definitive agreements to buy 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.
David M. Kirk, RFM's president and CEO, said he believes the combination of the three companies will provide users with 'end-to-end pervasive Internet solutions. To our knowledge, no one else combines such a broad line of wireless offerings with a value-added application and services platform.'
RFM provides connections to extend the Internet to communicate with unconnected machines through a broad range of low-power wireless networks and components. Cirronet supplies wireless modules and box products in the license-free 900 MHz, 2.4 GHz, and 5.8 GHz ISM bands to device OEM manufacturers, integrators, and end-users. Caver-Morehead's CMMS software gives users the ability to use and manage the data they have, collected by a wired or wireless data collection infrastructure.
—Control Engineering Daily News Desk
Jeanine Katzel , senior editor