Bsquare Shares Surge 46% After Being Acquired by Kontron

Dow Jones2023-10-12

By Ben Glickman

Shares of Bsquare Corp. surged after the company said it would be acquired by private company Kontron America.

The stock was up 46% to $1.80 in after-hours trading, following a 5.1% rise at Wednesday's close. Shares are up 9.6% this year.

Kontron's subsidiary will acquire all outstanding shares of the Seattle-based IoT company for $1.90 a share in cash, representing an equity value of about $38 million.

The companies said the offer represented a 62% premium on the trailing 52-week volume weighted average of Bsquare's closing price Tuesday.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

October 11, 2023 17:59 ET (21:59 GMT)

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