Vecima to Sell Telematics Business to Lantronix for About C$16.5M
The deal adds about $5.3 million in revenue and 125,000 asset tags as Lantronix expands its recurring-revenue industrial IoT business.
- On Tuesday, Lantronix Inc. announced an agreement to acquire the industrial IoT assets of Vecima Networks Inc., including its Nero Global Tracking software platform, for approximately C$16.5M.
- The acquisition adds approximately $5.3 million in total revenue and 125,000 asset tags under management, accelerating Lantronix's shift toward higher-margin, recurring-revenue IoT solutions and expanding its critical infrastructure monitoring.
- Lantronix will pay C$14.5M at closing with an additional C$2.0M due by year-end 2026; approximately 30 employees from the Telematics Business will join Lantronix, bringing SaaS-based asset-tracking expertise.
- Vecima President and CEO Sumit Kumar stated the sale allows Vecima to sharpen focus on broadband and video markets, while Lantronix President and CEO Saleel Awsare noted the deal complements drone and aerospace operations.
- Expected to close in the near term, the transaction integrates the Telematics Business into Lantronix's broader IIoT portfolio, positioning the company to pursue larger opportunities across critical infrastructure and industrial IoT markets.
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Financial Post
Vecima Announces Agreement to Sell Mobile and Fixed-asset Tracking Business to Lantronix
VICTORIA, British Columbia — Vecima Networks Inc. (TSX: VCM) has announced an agreement to sell the assets of its Telematics mobile and fixed-asset tracking segment, including its Nero Global Tracking software (the “Telematics Business”), to Lantronix, Inc. (“Lantronix”), a global provider of Edge AI and Industrial IoT solutions that delivers intelligent computing, secure connectivity, and […]
Brampton Guardian
Lantronix Adds High-Margin ARR and Expands Critical Infrastructure Monitoring Platform with Acquisition of Vecima Networks’ Industrial IoT Business
Acquisition adds $5.3 million of total revenue, including $4.5 million of annual recurring revenue (ARR) and approximately 125,000 asset tags under management with gross margins in the high-60% range
Vecima sells Telematics biz to Lantronix
Vecima Networks has cut a deal to sell its Telematics mobile and fixed-asset tracking business to Lantronix for $16 million Canadian dollars (US$11.61 million). Vecima said this will enable the company to apply more focus on its core broadband access and video businesses. #pressrelease
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