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.

Bay Area News Group blog editor (1221 Posts)