Thank You and Rakon's Next Chapter with Bourns
19 May 2026
To Rakon's shareholders and wider stakeholders,
On behalf of Rakon, I would like to sincerely thank you for your support, trust and engagement with the company over many years. Through the milestones, market cycles and significant evolution that Rakon has navigated as a listed company, the support and input of our investors and wider stakeholders has been an important part of our journey.
As we have advised, Bourns, Inc. has acquired more than 97 percent of Rakon Limited shares and share rights through its takeover offer and will own 100% by early June after the completion of the compulsory acquisition process. Rakon will become a part of Bourns as its Timing Division. This marks the end of Rakon's listed company chapter, but not the end of Rakon's story.
Rakon was founded in Auckland in 1967 and has grown from a New Zealand innovator into a global technology leader in frequency control and timing solutions. Our products support systems where precision, reliability and performance matter, including communications, positioning, space, defence and advanced technology applications such as AI.
Our strong foundation is now getting stronger. Rakon continues to have a clear path ahead, with multiple growth drivers across AI hardware, Aerospace and Defence, Telecom infrastructure and precision positioning. The work we completed over recent years has strengthened our technology base, global operations and market focus, and has positioned the business to convert its potential into sustained performance.
Joining Bourns gives Rakon access to a broader global platform, operational depth, long term support and the ability to invest through market cycles. It also gives us the opportunity to bring Rakon's long term vision to life with greater scale, discipline and confidence, while continuing to operate under the Rakon name.
For our customers, suppliers and partners, the message is continuity. Our commitments, obligations, relationships and focus on quality, service and delivery remain unchanged. For our employees, the message is opportunity. The same Rakon capability, culture and ambition now sit within a larger and stronger global group.
For our shareholders, I want to acknowledge your capital, patience and belief that helped build the company we are today. For the wider Rakon ecosystem and the communities in which we operate, we remain committed to supporting high value technology capability, skilled employment, innovation and responsible growth in New Zealand and across our global locations.
The next phase gives us the chance to fulfil the long-term vision behind Rakon’s founding: building world class timing and frequency technology from New Zealand for the global stage. As part of Bourns, we will move forward with focus, pace and accountability, and we will do the work required to turn that vision into sustained value.
On behalf of the Rakon team, thank you. As Rakon moves into its next chapter, our New Zealand roots and our spirit of innovation will remain central to who we are. We are proud of what has been accomplished together, and confident about the future ahead for Rakon, Bourns and all stakeholders who have helped shape the company. We will move forward with focus, pace and accountability, and we will work hard to make this next chapter a strong one for Rakon, Bourns and all of our stakeholders.
Sincerely,
Sinan Altug, Ph.D.
Chief Executive Officer, Rakon
