WJ Communications Completes Acquisition Of Telenexus

San Jose, CA -- WJ Communications, Inc. today announced that it has completed its previously announced acquisition of Telenexus, Inc. Telenexus is a RFID company that develops RFID products for a broad range of industries and markets.

"We are pleased to have completed this acquisition in a timely manner and look forward to fully integrating Telenexus' RFID technology and experienced engineering team into our operations," said Michael Farese, Ph.D., CEO and president of WJ Communications. "The addition of Telenexus' RFID products and technology are expected to allow us to continue to enhance our RFID reader offerings to further capitalize on this important market opportunity."

The consideration paid to Telenexus by WJ Communications at closing, including deposits into escrow, consisted of $3 million in cash and 2,333,333 shares of WJCI's Common Stock. Additionally, as previously announced, if the Telenexus operations achieve certain revenue targets over an 18 month period, Telenexus will receive further consideration of up to $5 million in a combination of stock and cash.

Source: WJ Communications