Universal Scientific Industrial, an electronics designer, and manufacturer completed the acquisition of Asteelflash, an electronics manufacturing service company for $450m, of which 89.6% is paid in cash, 10.4% is paid by issuing shares of USI. "This is a new milestone for Asteelflash and we are excited to join the USI family. USI and Asteelflash's respective know-how will help us grow together, being more influential in an increasingly competitive marketplace. Together, we will broaden our capabilities, resources, and expertise to create new opportunities and serve our customers' stringent needs with the highest level of quality," Gilles Benhamou, Asteelflash CEO.