Tender Offer Extended For Bsquare Acquisition

(RTTNews) - A tender offer to acquire application software developer Bsquare Corporation (BSQR ), by Kontron Merger Sub., Inc., a unit of Kontron America, an IoT Technology company, has been extended to December 6, Bsquare said in a statement.

As per the agreement announced on October 11, the tender offer to acquire Bsquare for $1.90 per share by Kontron was scheduled to be completed on November 21.

The Merger Agreement requires that more than 66 2/3% of shares need to be tendered, out of which 64.76% of outstanding shares have been tendered as of November 21. The offer is being extended to allow additional time for shareholders of Bsquare to tender their shares in order to meet the minimum tender condition.

Bsquare said that except the extension of the offer, all other terms and conditions of the offer remain unchanged.