Silex Technology Agrees to Murata Machinery Tender Offer for Common Stocks
SANTA ANA, Calif., Oct. 10, 2011 – Silex Technology America Inc., a global leader in wired and wireless networking solutions, today confirmed that Silex Technology Inc. [JASDAQ (6679)] announced last week in Japan that Murata Machinery Ltd.'s (Muratec) completed the successful tender offer for its common stock. The successful bid, coupled with subsequent transactions that will allow Muratec to acquire all shares of Silex Technology making Silex a wholly owned subsidiary of Muratec, a private Japanese-held company. Silex's brand and operations in Japan, Europe and the United States will continue without interruption.
"Muratec's successful offer for Silex shares occurred after considerable friendly discussions and agreement from both companies," said David Smith, chief operating officer, Silex Technology and president and chief executive officer, Silex Technology America. "We have been working hard to recover our business since the financial crisis of 2008. With Muratec's stable financial support, we can execute on our key themes to complete our renewal while maintaining our No. 1 share in the available print server market."
According to Smith, Silex can expect business cooperation with Muratec. Muratec's main business is the manufacturing of factory automation equipment, such as textile machinery, logistic automation, machine tools and communications, including multifunction printers and FAX machines. Muratec's headquarters is in Kyoto, Japan, with sales of JPY170B and a work force of 5,600 people. Muratec is not a public company but a globally recognized organization.
About Silex Technology Silex Technology America Inc. is a subsidiary of Silex Technology Inc. JASDAQ (6679) a 35-year developer and leading network technology company specializing in network and wireless technology, providing hardware, software, embedded modules and turnkey connectivity products. Silex Technology has regional offices for sales, marketing and development in Japan, United States and Germany. Silex Technology is integrated vertically to support customers from design to production, maintaining the highest quality standards. For more information, please visit www.silexamerica.com.
About Murata Machinery Ltd. Murata Machinery Ltd. is a manufacturer of products that strive to create a better environment through easier man/machine interfaces. The products are provided by four different divisions focusing on their specific markets: Machine Tools Division, Logistics & Automation Division, Textile Machinery Division, and Communication Equipment Division. The multinational corporation's headquarters are in Kyoto, Japan. Visit http://www.muratec.net for more information.