Form 8-K

0001193125-12-289922.txt : 20120629 0001193125-12-289922.hdr.sgml : 20120629 20120629161554 ACCESSION NUMBER: 0001193125-12-289922 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20120627 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120629 DATE AS OF CHANGE: 20120629 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BSQUARE CORP /WA CENTRAL INDEX KEY: 0001054721 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 911650880 STATE OF INCORPORATION: WA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-27687 FILM NUMBER: 12936244 BUSINESS ADDRESS: STREET 1: 110 110TH AVENUE NE, SUITE 200 CITY: BELLEVUE STATE: WA ZIP: 98004 BUSINESS PHONE: 4255195900 MAIL ADDRESS: STREET 1: 110 110TH AVENUE NE, SUITE 200 CITY: BELLEVUE STATE: WA ZIP: 98004 8-K 1 d374560d8k.htm FORM 8-K Form 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): June 27, 2012

BSQUARE CORPORATION

(Exact name of Registrant as specified in its charter)

Washington

000-27687

91-1650880

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

110 110^th Ave NE, Suite 200

Bellevue, WA 98004

425-519-5900

(Address and Telephone Number of Registrant’s Principal Executive Offices)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 1.01 Entry into a Material Definitive Agreement.

On June 27, 2012, BSQUARE Corporation (the “Company”) announced that it has entered into a Microsoft OEM Distribution Agreement for Software Products for Embedded Systems (the “Distribution Agreement”) with Microsoft Licensing, GP (“MS”), an affiliate of Microsoft Corporation. Under the Distribution Agreement, the Company distributes certain Microsoft Windows Embedded operating systems (the “Licensed Products”) on a non-exclusive basis to original equipment manufacturers (“OEMs”) within the United States, Canada, the Caribbean (excluding Cuba) and Mexico. In addition to this territory, the Company has rights to distribute the entire Microsoft Windows Embedded portfolio in the United Kingdom and Germany under a separate agreement.

The Distribution Agreement will replace the Company’s existing Microsoft OEM Distribution Agreement for Software Products for Embedded Systems with GP (the “Prior Agreement”), which is due to expire on June 30, 2012. The Distribution Agreement includes substantially the same terms and conditions as the Prior Agreement and has a one-year term beginning on July 1, 2012 and ending on June 30, 2013.

The Company is required to provide support to OEMs for the Licensed Products. For each unit of Licensed Product distributed by the Company, the Company pays MS certain royalties set forth in a royalty rate list posted by MS on a monthly basis. The Company may be required to pay additional royalties if it distributes Licensed Products in violation of the terms of the Distribution Agreement. The Distribution Agreement allows for the audit of the Company’s internal records and processes by MS and its representatives.

The Distribution Agreement includes a limitation of liability in favor of MS, its suppliers and certain other parties according to which the aggregate liability of those parties to the Company for each Licensed Product will not exceed a specified percentage of the amounts actually paid by the Company to MS for that Licensed Product during the term of the Distribution Agreement. This limitation does not apply to attorneys’ fees and expenses incurred by MS in connection with certain indemnification obligations it has under the Distribution Agreement.

In addition to certain rights of each party to terminate the Distribution Agreement for cause, either party may terminate the Distribution Agreement without cause by giving notice a specified number of days in advance.

A copy of the Company’s press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by this reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.


Exhibit No.		Description

99.1		Press Release, dated June 29, 2012, issued by BSQUARE Corporation

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	BSQUARE CORPORATION

Date: June 29, 2012	By:	/s/ Scott C. Mahan
		Scott C. Mahan
		Vice President, Finance & Operations
		and Chief Financial Officer

EX-99.1 2 d374560dex991.htm PRESS RELEASE Press Release

Exhibit 99.1

FOR IMMEDIATE RELEASE

Bsquare Renews Microsoft Embedded OEM Distribution Agreement

Bellevue, WA – June 29, 2012 – BSQUARE Corporation (NASDAQ: BSQR), a leading enabler of smart, connected devices and Microsoft Embedded Distributor of the Year for 2011, today announced the renewal of the Company’s Original Equipment Manufacturer (OEM) distribution agreement with Microsoft Corporation. Under this agreement, Bsquare will provide OEMs with licenses for Microsoft Windows Embedded products including Windows Embedded Standard 7, Windows Embedded Compact 7, Windows Embedded Server and vertical specific operating systems such as POSReady 7.

The agreement, which is effective for the period July 1, 2012 to June 30, 2013, renews the Bsquare Microsoft distribution relationship for the 14^th year and allows Bsquare to distribute the complete line of Microsoft Windows Embedded operating systems within the United States, Canada, Mexico and the Caribbean. Bsquare also distributes the entire Microsoft Windows Embedded portfolio in the United Kingdom and Germany.

Bsquare customers will benefit from continued access to Windows Embedded licensing as well as access to Bsquare expertise and guidance on selecting the best licensing options for the needs of their embedded device. Bsquare licensing services are complemented by the Company’s professional services, software development, quality management and support services.

“As a Microsoft Embedded licensing partner, Bsquare helps OEMs, ODMs and enterprises ensure that they have the right combination of embedded products necessary for these companies to get their products to market faster, with less risk,” said Scott Caldwell, Vice President of Sales, Third Party Licensing for Bsquare. “Microsoft Embedded presents a growth opportunity that Bsquare looks forward to supporting this year and beyond.”

For more information about Bsquare licensing solutions see http://www.bsquare.com/microsoft-windows-embedded-licensing.aspx. The Company also has two on-demand videos available that explain the benefits of the Embedded Channel (http://www.bsquare.com/data/sites/1/htmlfragments/Video-Growing.htm) and detail how to get started with Microsoft Embedded licensing (http://www.bsquare.com/data/sites/1/htmlfragments/Video-GetStarted.htm).

About BSQUARE Corporation

Bsquare, a global leader in embedded solutions, applies experience and expertise on leading platforms to create new connections with customers, new business models and to enable new ways of working and communicating. Bsquare serves customers by forging connections among the partners, people, tools, and technology needed to create smart connected devices. For more information, visit www.bsquare.com.


Bsquare Contact:		Investors Contact:
Diana Hoffman		Brett Maas
BSQUARE Corporation		Hayden IR
+1 425.519.5273		+ 1 646.536.7331
dianah@bsquare.com		Brett@haydenir.com

###

110 110^th Ave. NE., Suite 200, Bellevue, Washington 98004 Toll Free: 888.820.4500 Main: +1 425.519.5900 Fax: +1 425.519.5999

LOGO

BSQUARE is a registered trademark of BSQUARE Corporation. All other product and company names herein may be trademarks of their respective owners.

110 110^th Ave. NE., Suite 200, Bellevue, Washington 98004 Toll Free: 888.820.4500 Main: +1 425.519.5900 Fax: +1 425.519.5999

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