Watkins-Johnson descendant ceases to exist as public company

wj_logo.jpg It’s official: WJ Communications, all that’s left of the Palo Alto company founded in 1957 by Dean Watkins and H. Richard Johnson, ceased to be a publicly traded company after the markets closed Thursday, the same day its shareholders agreed to let the company be acquired by TriQuint Semiconductor for $1 a share in cash, or about $72 million.

In March, WJ said it was seeking “strategic alternatives” the same day it said that sales for its fiscal 2008 third quarter would be below expectations. The San Jose supplier of radio-frequency technology that had not shown a profit since 2000 said it hired Thomas Weisel Partners to help it evaluate its possibilities.

In its release Thursday announcing the sale approval, the company advised stockholders of WJ Communications who wanted to redeem their shares for cash should contact their broker or financial advisor.


More Posts in 1


Share this Post

  • Missy

    Hooray! A once high-flying and unethical company in the valley goes down! It would well serve the execs over the history of the company to lose their wealth. However, just as they were when lies were told to the DOD and DOJ, they were likely well-informed in time to sell and cover their tracks only to remain unscrupulous wealthy execs and former execs. These are the men (only) who should be behind bars for white-collar crime.

Menu Title