The L.S. Starrett Company (Starrett) is engaged in the business of manufacturing over 5,000 different products for industrial, professional and consumer markets. As a global manufacturer, the Company offers its range of products to the market through multiple channels of distribution worldwide. The Company's products include precision tools, non-contact industrial measurement systems, electronic gages, gage blocks, optical vision and laser measuring equipment, custom engineered granite solutions, tape measures, levels, chalk products, squares, band saw blades, hole saws, hacksaw blades, jig saw blades, reciprocating saw blades, M1 lubricant and precision ground flat stock. On November 22, 2011, a wholly owned subsidiary of the Company entered into an asset purchase agreement (the Purchase Agreement) with Bytewise Development Corporation (Bytewise) pursuant to which it subsidiary purchased all of the assets of Bytewise.