Digi International adds more wireless capability

Digi International Inc. acquired MaxStream Inc., described as a “fast-growing, privately held corporation and a leader in the wireless device networking market.” The acquisition is a merger transaction for $38.5 million of cash and stock, with $19.25 million paid in cash and $19.25 million in Digi stock.

09/01/2006


Digi International Inc. acquired MaxStream Inc., described as a “fast-growing, privately held corporation and a leader in the wireless device networking market.” The acquisition is a merger transaction for $38.5 million of cash and stock, with $19.25 million paid in cash and $19.25 million in Digi stock. The companies made the announcement July 27.

Based in Lindon, UT, and employing 49 people, MaxStream generated $10.4 million in revenue and $1.3 million in net income, or 12.7% of revenue, in the year ending Dec. 31, 2005, the companies reported. MaxStream supplies device manuafacturers and system integrators with reliable wireless modules and box products said to be easy-to-use and allow customers to wirelessly monitor and control electronic devices. Applications include automated utility meter reading, oil and gas monitoring, remote control and monitoring of commercial heating and air conditioning systems, vehicle information access for fleet management, industrial controls, wireless sensors, and electronic signals. www.digi.com





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