On August 1, 2017 Pacific Insight Electronics Corp., (TSX: PIH), a global solutions provider offering design, development, manufacturing and delivery of electronic products and full services solutions to the automotive, commercial vehicle and special markets entered into a definitive agreement with Methode Electronics Inc. (NYSE:MEI), a global developer of custom engineered and application specific products and solutions.

Under the terms of the definitive agreement, the transaction will be carried out by way of plan of arrangement pursuant to which Methode Electronics Inc. will acquire all of the outstanding shares of Pacific Insight Electronics Corp. in an all-cash transaction for a total consideration of approximately CAD$144 million.

Senior partner R. Hector MacKay-Dunn, Q.C. advised the Special Committee of the Board of Directors of Pacific Insight.