Motorola buys Yaesu]

andre kesteloot andre.kesteloot at
Sat Nov 10 14:11:38 CST 2007

 -----Original Message-----
> From: ARRL Web site [mailto:memberlist at]
> Sent: Monday, November 05, 2007 5:08 PM
> ARLX007 Motorola buys Yaesu
> Motorola USA has announced its intention to launch a tender offer to
> acquire a controlling interest in Vertex Standard Co, Ltd. Vertex
> Standard is the parent company of Yaesu. Motorola will own 80
> percent of Vertex Standard; Tokogiken, a privately held Japanese
> company, controlled by current president and CEO of Vertex Standard
> Jun Hasegawa, will retain 20 percent, forming a joint venture.

> The total purchase price for 80 percent of the outstanding shares on a
> fully diluted basis will be approximately US $108 million.

Here's what Dave Foran, K7BV, wrote recently about this:


By now, many of you may have heard that Vertex Standard Co., Ltd,  
Standard USA's parent company) announced that they have agreed to form a
collaborative joint venture with Motorola, Inc. I personally believe  
the most
important words in this sentence are "collaborative joint venture“ a  
relationship that indicates a far different outcome intent than the  
demise of
one of the venture partners.

Since Yaesu is the Amateur Radio Division of Vertex Standard, I am  
sure you are
just as curious as me, a Yaesu employee with a job at stake, to know  
what this
business transaction will mean to all of us in the hobby.  
Predictably, I see
that the news about the pending new Motorola relationship with Vertex  
hence Yaesu, is giving life to all sorts of misinformation and  
Internet postings by the usual cast of characters who always seem to  
know so
much more about things than the rest of us mere mortals.

After studying public announcements and considering the internal  
information that
 is made available to me in my role as the leadership individual for  
North American
sales at Yaesu, I would like to offer the following FACTS about this  

Motorola, Inc. (NYSE: MOT) will launch a tender offer to acquire a  
interest in Vertex Standard Co., Ltd. (JASDAQ: 6821). Upon successful  
of the tender offer and subsequent restructuring process, Motorola  
will own 80%
of Vertex Standard and Toko Giken, a privately held Japanese company,  
by Jun Hasegawa, current president and CEO of Vertex Standard, will  
retain 20%,
forming a joint venture.

On 5 November 2007, the Board of Directors of Vertex Standard  
expressed their
support of the tender offer. Yaesu as one of the Vertex Standard  
will be included in this exciting development.

I want our Yaesu customers and concerned others to know the following  
about the
proposed merger:

Vertex Standard (meaning Yaesu to us in the Amateur Radio hobby) will  
remain a
separate, global organization with distinct resources governed by the  
Board of
Directors comprised of four Motorola representatives and one Toko Giken
representative. Toko Giken is a privately held Japanese company,  
controlled by
the founder's family. It currently holds 29.2% shares of Vertex  

Mr. Jun Hasegawa (my boss), son of Sato Hasegawa JA1MP, the founder  
of Yaesu
will continue to take part in the management of Vertex Standard in  
his capacity
as the Representative Director, President and CEO of Vertex Standard  
after the
Tender Offer.

The day-to-day management of the joint venture will be the
responsibility of Mr. Hasegawa and his senior leadership team, who  
are also
expected to continue. Count me as one of those who will continue with  

Our business will continue to be operated as is, and we will continue to
actively develop new products and operate the business as a leading  
of amateur radio, marine, land mobile, and airband radios.

The Vertex Standard brand of equipment (Standard brand in Japan) will  
to exist. The current Vertex Standard brand strategies are highly  
respected by
Motorola and will be continued. Since Motorola appreciates our Yaesu  
strategy, there will be no change to it.

There will NOT be a Motorola brand of Amateur Radio equipment  
replacing or
competing with Yaesu.

Yaesu customers can expect to see positive benefit from the fact that
Vertex Standard has an experienced engineering team that, combined with
Motorola's extensive engineering talent, will develop new innovative  
Personally, I cannot wait to see what this joint engineering effort  
will bring
to Amateur Radio!

Cost synergies will be realized through the use of Motorola's buying  
power to
reduce the joint venture's costs for raw materials. Hams are known to  
seeking out the best buy for their hard earned money - expect to see  
products remain highly competitive and providing excellent value for  

Because Mr. Hasegawa will continue to manage the day-to-day  
operations of Vertex
Standard, we do not expect to see changes in the existing Yaesu  
pricing and rebate philosophies as a result of the joint venture.

These are historic exciting times for Yaesu, our customers, and  
Amateur Radio.
The future is bright and the potential for incredible technological  
for Amateur Radio are immense. We are glad you will be there with us  
as the
positive affects of the Vertex Standard / Motorola joint venture  

Dennis Motschenbacher K7BV
k7bv at vxstdusa. com

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