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BRIEF-Pixelworks to acquire Vixs systems

Published 2017-05-18, 04:48 p/m
© Reuters. BRIEF-Pixelworks to acquire Vixs systems
VXS
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May 18 (Reuters) - Vixs Systems Inc VXS.TO

* Pixelworks to acquire Vixs systems

* Deal for approximately US$20.2 million

* Each share of Vixs will be exchanged for 0.04836 of a share of Pixelworks' common stock

* Pixelworks will buy outstanding shares of Vixs in all-stock transaction consisting of about 3.7 million shares of Pixelworks common stock

* Says transaction has also been approved by Pixelworks' board of directors

* Directors, officers of Vixs and shareholders, collectively holding 36% of Vixs' shares, entered into support and voting agreements

* Pixelworks expects that transaction will be accretive to its full-year 2018 earnings per share

* Directors, officers of Vix, certain shareholders, holding 36% of Vixs' shares, agreed to vote their shares in favor of deal at meeting Source text for Eikon: ID:nBw4yHH5ma Further company coverage: VXS.TO

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