DZS said the $6.5 million sale of its industrial Internet of things (IoT) business to Lantronix for $6.5 million would allow DZS to focus on its 'core Networking, Connectivity and Cloud Edge Software portfolio.' #pressrelease
November 8, 2024
DZS (OTC: DZSI), a developer of Networking and Connectivity systems and Cloud Edge software solutions enabling broadband everywhere, today announced the sale of its enterprise Industrial Internet of Things (IoT) solutions portfolio to Internet of things and remote environment management leader Lantronix. The all-cash, $6.5 million transaction transfers the DZS portfolio of Industrial IoT solutions to Lantronix as well as the associated development, product and sales resources. The divestiture strengthens DZS' balance sheet and enables the company to focus its development and sales resources on its core Networking, Connectivity and Cloud Edge Software portfolio.
The acquisition for Lantronix enhances its internet of things (IoT) product portfolio, adds approximately 60 customers including several new marquee customers and expands its footprint spanning the United States, Europe and Australia.
Read the full press release here.
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