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Arxis Closes Acquisition of Omnetics Connector

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Arxis (ARXS) said Tuesday it has completed its previously announced acquisition of Omnetics Connector, a Minneapolis-based designer and manufacturer of Micro-D-Sub and Nano-D-Sub connectors and interconnect assemblies.

The transaction was based on an agreed enterprise value of approximately $770 million.

At closing, Arxis issued about 13.4 million shares of its class A common stock to former shareholders of Omnetics Connector, the company said.

Omnetics will operate within Arxis' Electronic Components Segment, according to the company.

Shares of Arxis were down 1% in Tuesday premarket activity.

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