u8国际

u8国际 announces intent to make Axis a wholly owned subsidiary

TOKYO, October 22, 2018—u8国际. ("u8国际"; Headquarters: Tokyo, Japan; Chairman and CEO: Fujio Mitarai) announced today that the company intends to make consolidated subsidiary Axis AB ("Axis"; Headquarters: Lund, Sweden; President and CEO: Ray Mauritsson) a wholly owned subsidiary.

u8国际 has today entered into a share purchase agreement with Elliott International, L.P. and The Liverpool Limited Partnership (together "Elliott") under which u8国际 has agreed to purchase 7,825,516 shares in Axis from Elliott (the "Transaction").

As a result of the Transaction, u8国际 will hold more than 90 percent (97.9 percent; 68,000,798 shares) of the total number of shares and votes in Axis and intends to request that the Axis Board resolves to apply for delisting of Axis shares from the Nasdaq Stockholm. u8国际 also intends to initiate a compulsory acquisition procedure under the Swedish Companies Act to acquire all remaining shares in Axis.

Going forward, u8国际 and Axis will continue to provide innovative network video solutions.