Lantronix Inc., a global leader in IoT compute and connectivity IoT solutions, announced that it has signed a definitive agreement to acquire from NetComm Wireless Pty Ltd, a subsidiary of DZS, Inc., all of the assets of its enterprise Internet of Things (IoT) business for $6.5 million in cash together with assumptions of certain liabilities. The acquisition complements Lantronix’s focus on the Enterprise and Smart City vertical markets and expands its next-generation 5G capabilities.
“The strategic acquisition of Netcomm’s IoT portfolio strengthens our Compute and Connect offerings by providing our customers with leading-edge IoT solutions,” stated Saleel Awsare, president and CEO of Lantronix. “The acquisition expands our portfolio in Gateway, Routers and Modems, including the latest 5G products, which enhances our Edge Compute solutions. It also adds new blue-chip Enterprise customers for additional cross-selling opportunities and opens our products to target-rich unserved geographic markets, such as Australia and New Zealand.”
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The closing of the acquisition is subject to certain conditions. Lantronix believes that the transaction will close during the second quarter of fiscal 2025. Lantronix expects the acquisition to be accretive upon closing and will accelerate the company’s strategic focus on innovative Industrial IoT solutions at scale. By integrating this new IoT portfolio, Lantronix will enhance its connectivity solutions in mission-critical areas, such as critical infrastructure, asset monitoring and telecommunications.
At the core of this acquisition are 4G and 5G solutions that enable ultra-fast Ethernet-to-Cellular and Wi-Fi® connectivity for machines in the most demanding environments. Designed for industries that require rugged, reliable connectivity, these products deliver low-latency performance and superior remote management capabilities. This IoT suite is trusted by some of the world’s most prominent companies.
Source: GlobeNewsWire