Lantronix Accelerates IoT Leadership With Strategic Acquisition of DZS’s NetComm Enterprise IoT Portfolio
Lantronix, Inc. (LTRX)
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Source: GlobeNewswire
Expands Lantronix’s IoT Wireless Connect Portfolio With Cutting-Edge 5G TechnologyStrengthens Competitive Offering, Adds New Blue-Chip Customers IRVINE, Calif., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Lantronix Inc. (NASDAQ: LTRX), a global leader in IoT compute and connectivity IoT solutions, today announced that it has signed a definitive agreement to acquire from NetComm Wireless Pty Ltd (“NetComm”), 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
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LTRX
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- 11/7/24 - Beat
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- 11/18/24 - Form 4
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