Monday, March 10, 2008

TriQuint to Buy WJ Communications for $72M

TriQuint Semiconductor Inc., a manufacturer of radio frequency components for the wireless industry, announced Monday that it has agreed to purchase WJ Communications Inc., a supplier of RF products and radio frequency identification readers. According to TriQuint, it will pay some $72 million in cash for WJ Communications, which calculates to $1 per share of common stock, an 18 percent premium versus the stock's March 7 closing price. Both companies' board of directors have approved the transaction, which is expected to close within 90 days pending stockholder and regulatory approval. WJ Communications is based in San Jose, Calif. TriQuint Semiconductor is headquartered in Hillsboro, Ore.