North & Webster, LLC made an offer to acquire additional majority stake in CSP Inc. (NasdaqGM:CSPI) from Samuel A. Kidston and other sellers in cash on November 7, 2012. Under the terms of the offer, North & Webster proposed to pay $5.5 for each share of CSP Inc. On November 14, 2012, North & Webster sent a letter specifying a detailed term sheet and transaction time line. On November 21, 2012, North & Webster nominated a slate of four Directors.

The transaction is proposed to close prior to the end of 2012. On February 6, 2013, North & Webster increased its offer to $7 per share.