Norbit ASA (OB:NORBT) agreed to acquire Ping Digital Signal Processing Inc. for $3.2 million on September 4, 2023. The target company is valued at $3.24 million on a cash and debt-free basis. The acquisition is to be financed 70% by cash and 30% as a private placement to the sellers of the target company.

Closing is expected to take place end of September.