Digi Buys Back Stock From Sorrento

Digi International repurchases of 1.2M shares of its stock held by Sorrento Networks at $3.10 per share

December 11, 2002

1 Min Read

MINNEAPOLIS and SAN DIEGO -- Digi International® Inc. (Nasdaq:DGII - News) and Sorrento Networks Corporation (Nasdaq:FIBR -News) today announced that they have agreed to the repurchase by Digi of 1,162,342 shares of its common stock held by Sorrento at a price of $3.10 per share. This transaction will result in the acquisition of one half of Sorrento's equity interest in Digi. Closing is scheduled to occur on December 13, 2002. Sorrento previously held shares in NetSilicon, Inc., a publicly traded developer of embedded device networking technology that Digi acquired in February 2002. All of the shares of Digi common stock that Sorrento holds were acquired in the NetSilicon merger.Sorrento Networks Corp. Digi International

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