Computer networking products maker Lantronix Inc. said it has agreed to acquire the assets of Vecima Networks Inc.’s industrial IoT business, including its Nero Global Tracking software-as-a-service platform. The transaction is expected to close in the near term, subject to customary closing conditions (Nasdaq: LTRX) (TSX: VCM).
The purchase price was not announced. Irvine-based Lantronix said in a statement yesterday that the purchase will add about $5.3 million of total revenue.
Shares in Lantronix fell 2.3% this morning to $5.24 apiece for a market cap of $233 million.