Why Resonant Shares Are Soaring Today?

Resonant ($RESN@US) is soaring this morning after the company announced it will be acquired by Murata ($MRAAY@Japan) for $4.50 per share in cash. Resonant is working on transforming the way radio frequency front-ends are being designed and delivered for mobile handset and wireless devices. The business combination will allow both companies to expand their offerings and to access additional markets and customers. The transaction is expected to close by the end of March. At that time, Resonant will become a wholly-owned subsidiary of Murata. Resonant is developing software, intellectual property and a services platform to increase designer efficiency, reduce time to market, and lower unit cost in the design of filters for radio frequency front-ends for the mobile device industry. Resonant has traded as low as nearly $1 and as high as almost $8 over a 52-week period. The stock was up more than 250% this morning.