ASIX Electronics Corporation (GTSM:3169) agreed to acquire Zywyn Corporation for $8 million in cash on November 5, 2014. ASIX will acquire all the shares of Zywyn through a tender offer. ASIX expects to fund the transaction with cash available on its balance sheet.

The deal was approved by Boards of Directors of both ASIX and Zywyn. The transaction is subject to customary closing conditions, including the tender into the offer by ZYWYN stockholders of shares representing 100% of the outstanding shares of ZYWYN common stock on a fully diluted basis, and the receipt of relevant regulatory approvals. The deal is expected to close on the beginning of 2015.

The transaction will provide immediate value to our customers and offers new growth opportunities for the employees.