Kontron acquires BSquare for $38m

  • October 17, 2023
  • Steve Rogerson

German embedded computing company Kontron has acquired Seattle-based BSquare, a specialist in software for connected devices, for approximately $38m.

The acquisition expands Kontron’s IoT offering by adding software capabilities, and enables Kontron to market more effectively its European software in North America.

“The acquisition of BSquare is an important step to strengthen our software development, marketing and integration in North America,” said Hannes Niederhauser, Kontron CEO. “We expect strong synergies in cross-selling with our San Diego-based subsidiary. The BSquare SquareOne product will be a good extension to our Susietec software family.”

Ralph Derrickson, Bsquare’s CEO, added: “BSquare’s business will combine naturally with Kontron’s IoT hardware products and services to create a more complete solution for our customers. The acquisition provides liquidity for BSquare shareholders while providing scale and efficiency for the business.”

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.

The takeover has been approved unanimously by the boards of directors of both companies.

The closing of the transaction will be subject to customary conditions. The transaction is expected to close later this year, after which BSquare will become a privately held company, and shares of BSquare common stock will no longer be listed on any public market.

For more than 20 years, Kontron (www.kontron.com) has been supporting companies from a wide range of industries to achieve their business goals. From automated industrial operations, smarter and safer transport to communications, medical and energy, the company delivers technologies that add value. Kontron has around 4500 employees with subsidiaries in more than 20 countries around the world.

BSquare (www.bsquare.com) helps companies build connected products that participate intelligently in their own security, deployment, operation and management. BSquare has experience designing with Windows, Linux, Android and other embedded operating systems and operates IoT networks ranging in size from 50,000 to more than a million devices for its customers. BSquare serves a global customer base from offices in Seattle and the UK.