Kontron America to acquire Bsquare Corp for $1.90 per share in cash

Kontron America and Bsquare jointly announced the execution of a definitive merger agreement by which Kontron will acquire Bsquare. Under the terms of the agreement, Kontron will commence a tender offer for all outstanding shares of Bsquare for $1.90 per share of common stock in an all-cash transaction, representing an implied equity value of approximately $38M. The closing of the transaction will be subject to customary conditions, including the expiration or termination of certain regulatory periods and the tender of at least two-thirds of Bsquare’s outstanding common stock in the tender offer. Upon the successful completion of the tender offer, Kontron would acquire any untendered shares of Bsquare’s common stock through a second-step merger effected for the same per common share consideration. The transaction is expected to close later in 2023. After closing, Bsquare will become a privately held company, and shares of Bsquare common stock will no longer be listed on any public market.