KUALA LUMPUR, NOV 8 (Bernama) -- Lantronix Inc 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 US$6.5 million in cash together with assumptions of certain liabilities. (US$1=RM4.38)
According to Lantronix in a statement, the acquisition complements Lantronix’s focus on the Enterprise and Smart City vertical markets and expands its next-generation 5G capabilities.
Lantronix president and chief executive officer, Saleel Awsare said the strategic acquisition of Netcomm’s IoT portfolio strengthened its Compute and Connect offerings by providing customers with leading-edge IoT solutions.
“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,” he said.
The transaction is expected to close during the second quarter of fiscal 2025, and the acquisition to be accretive upon closing, in which 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.
Lantronix expects DSZ’s NetComm enterprise portfolio to generate between US$6 million and US$7 million in revenue during calendar year 2024.
-- BERNAMA
