Gaming machine hardware maker Quixant (LON:QXT) has agreed a £7.7mln deal to buy electronic screen maker Densitron Technologies (LON:DSN).
Densitron said the deal is worth 11p per share, representing an almost 30% premium to yesterday’s close.
Jan Holmstrom, chairman of Densitron, said: “The Offer enables Densitron Technologies shareholders to realise value today in cash for their shares at a premium to the recent historical share price and a meaningful premium to the company's share price immediately prior to the date of this Announcement.
Densitron has a current market capitalisation of around £5.9mln.
The all-cash offer will be funded by Quixant’s existing cash and a new banking facility.
Michael Peagram, chairman of Quixant said: “The acquisition will complement Quixant's move into the provision of displays to its gaming customers, alongside the specialised computer systems it currently supplies.”
Shares in Densitron rocketed 25% to 10.6p today, while Quixant’s shares were flat at 140p.
Following completion Densitron Technologies' shares will be cancelled from trading on AIM.