Micronetics Acquires Product Line From M/A-COM RFID, Inc., An Indirect Wholly Owned Subsidiary Of Cobham plc
March 18 2009 - 6:02PM
Business Wire
Micronetics, Inc. (NASDAQ:NOIZ) announced today it has acquired
the pedestal and forklift mounted radio frequency identification
(RFID product line of M/A-COM RFID, Inc, an indirect, wholly owned
subsidiary of Cobham plc. RFID is a wireless identification
technology that is being adopted by certain leading commercial
retailers and the Department of Defense (DOD) to track
inventory.
The product line consists of portal systems with directional
intelligence, sensor based forklift systems and high performance
RFID antennas. This family of product solutions acts as the air
interface between retail warehouse management systems; streamlining
material movement for increased inventory accuracy, reduced
material losses, and increased throughput.
More than 12,000 portals have been deployed in the field over
the last four-years. The forklift sensor has passed initial Beta
testing and is now entering a pre-production test phase. All
production deployments have been to a leading worldwide retailer.
Large scale retailers employing RFID technology can expect
extensive inventory and labor cost savings. Historically, these
products have been marketed through a technology partnership with
ADT Security Services.
Dave Robbins, CEO of Micronetics, Inc. stated, �We are quite
pleased to be acquiring this RFID product line because it is
another step forward in executing our goal of being a premier
supplier of enabling RF/Microwave subsystems. We believe these RFID
products could have a significant near-term upside and provide
growth opportunities for RF/Microwave antenna technology in
commercial and defense markets.�
Kevin Beals, President of Micronetics, Inc. stated, �We are
excited about this agreement because it is in line with our core
strategy of expanding business partnerships with proven technology
leaders such as ADT. This product line is building upon
pre-existing in-house manufacturing and management expertise, and
is expected to be a smooth transition.�
The manufacturing of this product line will be moved to the
existing manufacturing facility in Hudson NH.
ABOUT MICRONETICS, INC.
Micronetics manufactures microwave and radio frequency (RF)
components and integrated subassemblies used in a variety of
defense, aerospace and commercial applications. Micronetics also
manufactures and designs test equipment and components that test
the strength, durability and integrity of communication signals in
communication equipment. Micronetics serves a diverse customer
base, including AeroSat, Airspan, Anaren Microwave, BAE Systems,
Boeing, Comtech, EADS, EDO/Benchmark, General Dynamics, ITT
Electronic Warfare Systems, L-3 Communications, Lockheed Martin,
Nextwave/Jabil Circuit, Northrop Grumman, Pegasus GSS, Qualcomm,
Raytheon, Teradyne, Tektronix and Thales. Additional information
can be found on our website at http://www.micronetics.com.
ABOUT M/A-COM RFID, INC.
M/A-COM RFID was formed in July of 2008 and holds some assets
from the acquisition in September 2008 by indirect wholly owned
subsidiaries of Cobham plc of the M/A-COM RF components and
microwave subsystems business of Tyco Electronics Group S.A. and
its various affiliates. M/A-COM RFID Inc. provides innovative RF
and microwave design solutions and products in the commercial
marketplace.
Some of the statements contained in this news release are
forward-looking statements. The accuracy of these statements cannot
be guaranteed as they are subject to a variety of risks, including
but not limited to reductions in spending by certain of our
customers, our ability to operate and integrate acquired companies,
our ability to manage our growth, disruptions in supply or
production, increased levels of debt, our ability to protect our
proprietary information, future economic conditions in our industry
and generally, as well as other factors. The information in this
release should be reviewed in conjunction with Micronetics' Annual
Report for its fiscal year ended March 31, 2008 as well as its
other filings with the Securities and Exchange Commission.
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