Strix Group Plc (LON: KETL), the global leader in the design, manufacture and supply of kettle safety controls and other complementary water temperature management components, today announced it has made an offer, subject to certain conditions, to acquire specified assets from HaloSource Corporation for approximately $1.3m in cash.
Halosource is a clean water technology company, admitted to trading on AIM, with operations in the US and China. Strix has offered to acquire certain US and Chinese assets which will assist in accelerating its strategy to expand and grow its water filtration division.
The acquisition is subject, amongst other things, to the negotiation of mutually acceptable legal documentation and the approval of HaloSource shareholders.
Strix will make a further announcement in due course.