Datronix Holdings Ltd. (SEHK: 889) entered into a non-binding LOI to acquire Cal-Coil Magnetics, Inc. and Cal-Coil China Ltd. from Scott Alvarado for $1.6 million on June 15, 2011. Datronix Holdings Ltd. (SEHK:889) entered into a asset purchase agreement to acquire Cal-Coil Magnetics, Inc. and Cal-Coil China Ltd. on March 23, 2012. As part of transaction, all rights, title and interest in and to the assets, properties and material associated with the business of Cal-Coil Magnetics and Cal-Coil China. The consideration by internal resources of Datronix Holdings. The Directors of Datronix are of the view that the terms of the asset purchase agreement are fair and reasonable and are on normal commercial terms and is in the interests of Datronix and the shareholders of Datronix as a whole. The transaction is expected to complete upon the conclusion of the due diligence period as specified in the asset purchase agreement on April 9, 2012. Datronix Holdings Ltd. (SEHK:889) completed the acquisition of Cal-Coil Magnetics, Inc. and Cal-Coil China Ltd. from Scott Alvarado on April 9, 2012.