Acquisition And ExpansionLantronix announced its intent to acquire all of the assets of NetComm Wireless’s enterprise Internet of Things (IoT) business, which expands the company’s portfolio and is expected to be immediately accretive to EPS.
Financial PerformanceLantronix reported revenue and EPS ahead of estimates, with revenue up 19% quarter-over-quarter and 41% year-over-year, driven by the IoT Solutions segment.
Leadership And StrategyLantronix appointed Mr. Awsare as President and CEO, who has extensive experience in transitioning divisions to the IoT and enterprise markets.