O’Melveny Advises Lantronix in Agreement to Acquire Transition Networks and Net2Edge from Communications Systems Inc. for Up to US$32 Million4月 29, 2021
FOR IMMEDIATE RELEASE
SILICON VALLEY—April 29, 2021—O’Melveny advised Internet of Things and Remote Environment Management solutions provider Lantronix (Nasdaq:LTRX) in a securities purchase agreement to acquire Transition Networks and Net2Edge, the electronics and software businesses of Communications Systems Inc. (Nasdaq:JCS).
Irvine, Calif.-based Lantronix facilitates development and management of innovative M2M and Out of Band Management solutions for clients across industries including manufacturing, retail, medical, security, energy, government, and more.
Communications Systems Inc., of Minnetonka, Minn., is a connectivity technology company that develops physical communications infrastructure for global broadband networks. Its business unit Transition Networks provides network integration solutions to enhance bandwidth, security, and network management. Net2Edge engineering, marketing, and business development products ensure seamless upgrades to clients switching from legacy networks to high-speed services.
The base price of US$25 million to be paid by Lantronix will be augmented by up to US$7 million in earnout payments.
The O’Melveny team representing Lantronix was led by Silicon Valley/San Francisco partner Noah Kornblith and included partners Warren Lazarow and Jennifer Taylor, associate Maiah Parks, and of counsel Loren Weber.
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