New Acquisition For Rakon

Media information: 5 March 2007

New Acquisition For Rakon

Rakon completes acquisition of the Frequency Control Products division of C-MAC MicroTechnology

Rakon Limited, a world leader in frequency timing reference technology, announces that it has completed the acquisition of the Frequency Control Products division of C-MAC MicroTechnology.

The acquisition was completed on Friday, March 2, 2007 for US$37 million, which was funded by a placement of new shares to institutional and habitual investors on February 12-13, 2007.

Brent Robinson, Rakon Managing Director, said he was very pleased with the support shown by the investment community for the acquisition.

"This acquisition gives us a broader base of blue chip customers along with and leadership positions in new markets that we see as highly complementary to our existing business."

The re-named companies, Rakon UK Limited (Crewkerne, UK), Rakon Europe Limited (Lincoln, UK) and Rakon France SAS (Argenteuil, France), collectively employ approximately 250 people.

The immediate focus of the newly combined businesses is on integrating the product offerings and the sales force to maximize Rakon's global coverage.

Brent Robinson said; "Now the acquisition is complete we will be working closely with the European management team to put plans for the future in place The UK and France operations are now part of a global leader in frequency control products, which is exciting for all of us. This acquisition gives Rakon an expanded global presence in more markets with more products and forms an excellent platform for growth"

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