Akoustis Technologies, Inc. acquired 51% stake in RFM Integrated Device, Inc. from Tai-Saw Technology Co.,Ltd. for $11.5 million.
October 17, 2021
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Akoustis Technologies, Inc. (NasdaqCM:AKTS) agreed to acquire 51% stake in RFM Integrated Device, Inc. from Tai-Saw Technology Co.,Ltd. (TPEX:3221) for $11.5 million on October 15, 2021. Akoustis Technologies, Inc. will pay $6 million in cash and approximately $2.5 million payable in unregistered shares of common stock of the Akoustis Technologies, Inc. Additionally, earn-out payments aggregating up to $3 million payable in cash and/or shares of common stock of Akoustis Technologies, Inc. may be payable to Tai-Saw Technology Co.,Ltd. based on the future operating results of RFM Integrated Device, Inc. It is a bolt-on RF filter business acquisition which is immediately accretive to Akoustis financials from a cash flow perspective. Akoustis Technologies, Inc. has the option to acquire the remaining 49% ownership interest in RFM Integrated Device, Inc. from Tai-Saw Technology Co.,Ltd. on or before June 30, 2022, for an additional $3.5 million in cash and approximately $4.0 million in unregistered shares of common stock of Akoustis Technologies, Inc.
Akoustis Technologies, Inc. (NasdaqCM:AKTS) completed the acquisition of 51% stake in RFM Integrated Device, Inc. from Tai-Saw Technology Co.,Ltd. (TPEX:3221) on October 15, 2021.
Akoustis Technologies, Inc. is a commercial product company. The Company operates through two segments: Fabrication Services and RF Filters. Its Fabrication Services segment consists of engineering review services and backend packaging services. Its RF Filters segment consists of amplifier and filter product sales. The Company develops RF filters for fifth generation (5G), wireless fidelity (WiFi) and defense bands through its resonator device models and product design kits (PDKs). It is focused on developing, designing, and manufacturing RF filter solutions for the wireless industry for products, including smartphones and tablets, network infrastructure equipment, WiFi Customer Premise Equipment (CPE), automotive, industrial and defense applications. The Company has developed a microelectromechanical system (MEMS) based bulk acoustic wave (BAW) technology. It is also engaged in providing back-end semiconductor supply chain services.
AKOUSTIS TECHNOLOGIES, INC. 
