Tuesday, August 24, 2010
RF Monolithics Gets Investment From Murata Electronics
Dallas-based RF Monolithics announced today that it Murata Electronics North America has purchased a nearly $700K stake in the firm, as part of a collaboration agreement. According to RF Monolithics, Murata purchase 533,000 shares of its common stock at $1.31 per share. RFM said the deal covers exploration on how the two firms can cooperate to provide additional products and services to their customers. RFM also said the investment increases the firm's access to its collateralized banking facility by up to $750,000, and that it will use the investment to pay down its bank line. RFM is a manufacturer of products for the industrial wireless and machine-to-machine (M2M) wireless market.