Consolidation
WJ Communications Announces Merger Agreement
WJ Communications, a San Jose, Calif.-based maker of radio frequency semiconductors and RFID readers, has announced an agreement to acquire privately held Telenexus of Richardson, Texas, for $10 million in cash and stock. Telenexus develops RFID hardware and software products. WJ says it expects to close in approximately 15 days if the Telenexus operations achieve certain revenue over an 18-month period. Under the agreement, Telenexus shareholders will receive further consideration of up to $5 million in a combination of stock and cash. According to the Associated Press, shares of WJ Communications rose 9 cents to $3.29 on the Nasdaq market on the morning of the announcement, Jan. 20.