Kontron America to Acquire Bsquare in All-Cash Deal Valued Around $38 Million

Dow Jones2023-10-12

By Denny Jacob

Kontron America will acquire Bsquare in a deal with an implied equity value of about $38 million.

A subsidiary of Kontron will commence a tender offer for all outstanding shares of software technology developer Bsquare for $1.90 a share of its common stock in an all-cash deal under terms of the merger agreement.

The offer price represents a 62% premium to the trailing 52-week volume weighted average of Bsquare's closing price as of Tuesday, the companies said Wednesday.

The merger was approved by the boards of both companies, and is expected to close later in the year.

"We expect strong synergies in cross-selling with our San Diego-based subsidiary," said Kontron Chief Executive Hannes Niederhauser.

Bsquare will become a privately held company and its shares will no longer be listed on any public market after the close.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

October 11, 2023 17:24 ET (21:24 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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