Lantronix describes itself as a global provider of software as a service (SaaS), connectivity services, engineering services, smart hardware, and turnkey solutions for the Internet of Things and remote environment management (REM).

"The transaction will bring immediate scale to Lantronix, with combined company revenues expected to exceed $100 million annually," Lantronix said in announcing the closing of the deal. "The acquisition will bring complementary IoT connectivity products and capabilities, including switching, Power over Ethernet, and media conversion and adapter products.".

The company added that it "sees significant operational and product development synergies in the combined company and ... expects to realize $7 million in annual run-rate synergies over the course of the first 24 months."