Lantronix Accelerates IoT Leadership With Strategic Acquisition Of DZS's NetComm Enterprise IoT Portfolio For $6.5M In Cash Together With Assumptions Of Certain Liabilities

Author: Benzinga Newsdesk | November 07, 2024 06:03pm

Expands Lantronix's IoT Wireless Connect Portfolio With Cutting-Edge 5G Technology

• Strengthens 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.

Posted In: DZSI LTRX