ITEM 1.01. Entry Into a Material Definitive Agreement
On April 3, 2009, the Company entered into an Asset Purchase Agreement between White Electronic Designs Corporation (the "Company"), Panelview, Incorporated, VIA optronics GmbH and VIA optronics, LLC ("Asset Purchase Agreement") to sell certain operating assets of its Display Systems Division ("DSD") to the U.S. subsidiary of VIA optronics GmbH ("VIA"), a German company. This transaction closed the same day as the execution of the Asset Purchase Agreement. The assets purchased pursuant to the Asset Purchase Agreement consist primarily of inventory, equipment, certain intellectual property, and other listed assets and were sold for approximately $2.3 million. Other non-operating net assets, including accounts receivable and residual liabilities, were retained by the Company to be settled in the normal course of business. In addition, the Asset Purchase Agreement provides for certain post-closing services to be provided by the Company during the transitional period of the DSD business.
The above description of the Purchase Agreement is qualified in its entirety by reference to the full terms and conditions of the Purchase Agreement, which is attached hereto at Exhibit 10.1 and incorporated herein by reference. The Company issued a press release on April 7, 2009, regarding the closing of the transaction on April 3, 2009, which is also attached hereto at Exhibit 99.1. ITEM 9.01. Financial Statements and Exhibits

(d) Exhibits Exhibit Number Description 10.1 Asset Purchase Agreement Between White Electronic Designs Corporation, Panelview Incorporated, VIA optronics GmbH and VIA optronics, LLC, dated as of April 3, 2009 99.1 Press Release

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