Murata Manufacturing to buy U.S. electronic parts maker Peregrine
(Japan Economic Newswire Via Acquire Media NewsEdge) Murata Manufacturing Co. said Saturday it will buy a U.S. maker of wireless device parts, Peregrine Semiconductor Corp., to strengthen its production of smartphone parts.
The Kyoto-based company, known for condensers and other parts for wireless communication devices, will buy all the shares it does not already own in the San Diego-based firm for $465 million (48.0 billion yen) by the end of this year.
Its offer, to be put to Peregrine's shareholders' meeting, values the U.S. company at $471 million.
Peregrine has been supplying parts to Murata including so-called radio frequency switches, which convert radio waves to digital signals, "a key strategic area for the mobile industry," Murata said in a statement.
(c) 2014 Kyodo News
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