Product category:
Wireless Communications
News Release from: Digi International
Edited by the Electronicstalk Editorial
Team on 03 August 2006
Wireless acquisition is a natural fit
Digi International has acquired MaxStream, a fast-growing privately held corporation and a leader in the wireless device networking market.
Digi International has announced the acquisition of MaxStream, 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
This article was originally published on Electronicstalk on 17 Aug 2007 at 8.00am (UK)
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Based in Lindon, Utah 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 31st December 2005.
MaxStream supplies device manufacturers and integrators with reliable wireless modules and box products that meet the unique needs of industry and commerce.
The products are easy-to-use and allow customers to wirelessly monitor and control electronic devices.
To meet market needs, MaxStream provides a menu of distance and speed options, ranging from 30m to 65km, and a few kilobits per second to 1.5Mbit/s.
Some typical 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.
"This is really an exciting combination - the strategic fit between the two companies is remarkable", said Joe Dunsmore, Chairman, President and CEO of Digi.
"Our product lines are entirely complementary".
"We're both focused on the commercial-grade device networking market and our core strategies of providing turnkey box products and embedded modules are the same".
"What a great opportunity this is for MaxStream to join with a company that has such a great reputation in the industry", said Brad Walters, President and CEO of MaxStream.
"Culturally, the two companies are very compatible and we're really looking forward to jointly addressing the rapidly growing wireless market".
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