Lantronix, Inc. (NASDAQ: LTRX), an Irvine, CA-based provider of secure solutions for Intelligent IT and Internet of Things (IoT), acquired Uplogix, an ut-of-Band (OOB) management solutions provider.
The amount of the deal was approximately $8 million in cash with an additional payment of up to $4 million, subject to the achievement of certain revenue targets for Uplogix.
With the acquisition, Lantronix will bring immediate scale to its OOB remote management solutions, adding a complementary high-end product offering that includes high-margin maintenance and licensing revenues.
Uplogix’s last twelve-month revenues were approximately $9 million. Lantronix will update its Fiscal 2023 revenue guidance to include this acquisition in its next quarterly earnings report.
Lantronix is a provider of secure turnkey solutions for the Internet of Things (IoT) and Remote Environment Management (REM), offering Software as a Service (SaaS), connectivity services, engineering services and intelligent hardware. The company’s solutions enable customers to accelerate time to market and increase operational up-time and efficiency by providing secure and connected Intelligent Edge IoT and Remote Management Gateway solutions. Its products and services simplify the creation, development, deployment and management of IoT and IT projects across Robotics, Automotive, Wearables, Video Conferencing, Industrial, Medical, Logistics, Smart Cities, Security, Retail, Branch Office, Server Room, and Datacenter applications.
FinSMEs
13/09/2022