Lantronix Acquires Vecima Networks' Industrial IoT Business
Lantronix has announced an agreement to acquire the assets of Vecima Networks' industrial IoT business, including its Nero Global Tracking software-as-a-service platform. The transaction is expected to close in the near term, subject to customary closing conditions. The transaction adds approximately $5.3M of total revenue, including $4.5M of annual recurring revenue, and approximately 125,000 asset tags under management. The total consideration is approximately $11.5M, excluding working capital, and other customary adjustments and excluding acquisition-related costs. Nero Global Tracking customers and channel partners can expect continuity in service, support, and product roadmap. The approximately 30-person IIoT team will join Lantronix.
