As part of Murata Manufacturing Co. Ltd.'s strategy to expand its core business, the company has entered into a definitive agreement to acquire Peregrine Semiconductor Corp. for $12.50 per share.
The deal, valued at $471 million, will make Peregrine a wholly owned subsidiary of Murata and add to the Kyoto, Japan-based company's passive components business as well as enhance Murata's RF products.
Peregrine is the founder of radio frequency (RF) silicon on insulator (SOI) and has a deep portfolio in front-end RF products for mobile and analog applications. The acquisition will compliment Murata's own RF module business, according to Norio Nakajima, executive vice president and director of Murata's Communication Business Unit.
"We have worked closely with them for many years," Nakajima said, in a statement."Their innovation, including the Global 1 all-silicon integrated RF front-end, is a key strategic area for the mobile industry. This transaction will deepen our existing partnership and position us to meet the expanding opportunities in this field."
Murata said the deal will give the company a strong portfolio of intellectual property rights and key technologies in the front-end RF space affording it many opportunities in the smartphone, test & measurement, automotive, public safety radio and wireless Infrastructure markets.