Resonant, Inc. (NASDAQ: RESN) is a late-stage semiconductor development company, which focuses on the designing and building filters for radio frequency (RF) and related front-ends for use in mobile devices, auto, medical, Internet-of-Things, and more. Shares of the semiconductor developer are skyrocketing 250% through early trading on Tuesday, February 15, 2022. Over the past three months, Resonant has seen average daily volume of around 665,210 shares. However, volume of 11.06 million shares or dollar volume of around $47.56 million, has already exchanged hands through early trading.
Shares of Resonant are soaring after the company announced that it has entered into a definitive agreement to be acquired by Murata Electronics North America, Inc., a subsidiary of Murata Manufacturing Co., Ltd. Under the terms of the deal, Murata will acquire all outstanding shares of Resonant at a price per share of $4.50 in cash.
Murata operates as a global leader in the RF module and filter market. The acquisition of Resonant will allow Murata to gain access to its proprietary XBAR technology, which is believed to achieve higher frequencies and better performance compared to traditional filters.
The transaction has been approved by both companies’ board of directors and is estimated to close by the end of the first quarter 2022. The closing of the deal is still subject to customary conditions, regulatory approvals, and more.
“We believe this acquisition will enhance Murata’s advanced RF front-end capabilities and the world’s best filtering technology in the 3~9GHz frequency range, key areas for the growing integration of mobile technologies. The radio requirements of smartphones and other wireless devices continue to grow more complex. XBAR filter technology delivers the ability to solve the complexities created by these next generation network requirements. Murata and Resonant will provide a strong portfolio of Intellectual Property Rights covering the entire XBAR technology,” noted Norio Nakajima, President of Murata.
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