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Lantronix Announces Definitive Agreement to Acquire Electronics and Software Reportable Business Segment From Communications Systems Inc.

Transaction brings increased scale and operating efficiencies to Lantronix; combined annual revenue expected to exceed $100 million
Adds complementary switching, PoE and media conversion technologies to Lantronix IoT connectivity portfolio
Anticipates $7 million in annualized expense synergies to be implemented over 24-month period following close of transaction
Expects day-one accretion to earnings (excluding acquisition-related costs), with significant contribution to earnings in the first full year
Announces conference call to discuss the acquisition
/EIN News/ IRVINE, Calif., April 29, 2021 (GLOBE NEWSWIRE) Lantronix Inc. (“Lantronix”) (NASDAQ: LTRX), a global provider of Software as a Service (SaaS), connectivity services, engineering services, intelligent hardware and turnkey solutions for the Internet of Things (IoT) and Remote Environment Management (REM), today announced that it has entered into a definitive Securities Purchase Agreement to ....

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