Lantronix Inc. a global leader in IoT compute and connectivity IoT solutions, announced that it has finalized its acquisition of NetComm Wireless Pty Ltd (“NetComm”), a subsidiary of DZS Inc., for all of its enterprise Internet of Things (IoT) business assets for $6.5 million in cash, together with assumptions of certain liabilities.
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This strategic acquisition complements Lantronix’s focus on the Enterprise and Smart City vertical markets and has the potential to expand its next-generation 5G capabilities. By integrating this new IoT portfolio, Lantronix enhances its connectivity solutions in mission-critical areas, such as critical infrastructure, asset monitoring and telecommunications.
“We are pleased to complete the strategic acquisition of DZS’s IoT portfolio, which enables Lantronix to accelerate its position of leadership with expanded enterprise and industrial IoT solutions,” stated Saleel Awsare, president and CEO of Lantronix. “With this acquisition, Lantronix customers now have access to extended IoT offerings in Gateway, Routers and Modems, which enhance our edge compute solutions. This acquisition 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.”
At the core of this acquisition are 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 remote management capabilities. This IoT suite is already trusted by some of the world’s most prominent companies. Lantronix expects DZS’s NetComm enterprise portfolio to generate between $6 million and $7 million in revenue during calendar year 2024.
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Source – Globenewswire
