M&A Deal Summary

Lantronix Acquires Communications Systems - Transition Networks & Net2Edge Businesses

On April 29, 2021, Lantronix acquired technology hardware company Communications Systems - Transition Networks & Net2Edge Businesses from Pineapple Holdings for 32M USD

Acquisition Highlights
  • This is Lantronix’s 2nd transaction in the Technology Hardware sector.
  • This is Lantronix’s largest (disclosed) transaction.
  • This is Lantronix’s 1st transaction in the United States.
  • This is Lantronix’s 1st transaction in Minnesota.

M&A Deal Summary

Date 2021-04-29
Target Communications Systems - Transition Networks & Net2Edge Businesses
Sector Technology Hardware
Buyer(s) Lantronix
Sellers(s) Pineapple Holdings
Deal Type Divestiture
Deal Value 32M USD

Target

Communications Systems - Transition Networks & Net2Edge Businesses

Minnetonka, Minnesota, United States
Transition Networks help companies advance their networks by providing built-to-perform hybrid fiber/copper network integration solutions that increase bandwidth, extend the distance, improve security and simplify management of networks. Net2Edge provides each organization the ability to focus on its respective core development and marketing activities.

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Buyer(S) 1

Buyer

Lantronix

Irvine, California, United States

Category Company
Founded 1989
Sector Information Technology
Employees357
Revenue 131M USD (2023)
DESCRIPTION

Lantronix is a provider of secure data access and management solutions for the Internet of Things (IoT) assets. Lantronix is a leading supplier of IoT solutions that enable companies to dramatically simplify the creation, deployment, and management of IoT projects. Lantronix was founded in 1989 and is based in Irvine, California.


DEAL STATS #
Overall 2 of 3
Sector (Technology Hardware) 2 of 3
Type (Divestiture) 1 of 1
State (Minnesota) 1 of 1
Country (United States) 1 of 2
Year (2021) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-31 Intrinsyc Technologies

Vancouver, British Columbia, Canada

Intrinsyc Technologies Corp. provides comprehensive product development services, as well as the industry’s highest-performance edge, AI computing modules, to enable rapid commercialization of intelligent IoT products. Intrinsyc has successfully delivered over 1,400 client projects including sophisticated consumer and industrial IoT products like robotics, connected cameras, smart displays, augmented reality, smart buildings, wearables, in-vehicle infotainment, and many others.

Buy $27M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-12 Uplogix

Irving, California, United States

Uplogix provides a fully-integrated remote management solution. Uplogix's co-located management appliances automate routine administration, maintenance, and recovery tasks securely and regardless of network availability. Uplogix was founded in 2003 and is based in Irving, California.

Buy $8M

Seller(S) 1

SELLER

Pineapple Holdings

Minnetonka, Minnesota, United States

Category Company
Founded 1969
Sector Technology Hardware
Employees201
Revenue 80M USD (2023)
DESCRIPTION

Pineapple Holdings is a provider photovoltaic solar energy systems to residential homeowners in the United States. It offers a range of installation services, including design, engineering, procurement, permitting, construction, grid connection, warranty, monitoring, and maintenance of residential solar energy systems. The company also offers battery storage products and energy management control devices on solar systems that are paired with batteries. Pineapple Holdings was founded in 1969 and is based in Minnetonka, Minnesota.


DEAL STATS #
Overall 2 of 2
Sector (Technology Hardware) 1 of 1
Type (Divestiture) 2 of 2
State (Minnesota) 2 of 2
Country (United States) 2 of 2
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-02 Pineapple Energy

St. Paul, Minnesota, United States

Pineapple Energy is a US operator and consolidator of residential solar, battery storage, and grid services solutions. Through its unique “battery-first” business model, Pineapple will offer compelling residential solar power systems, with longer-term plans to aggregate its customer fleet into regional virtual power plants.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-10 SUNation

Ronkonkoma, New York, United States

SUNation Energy is a residential and commercial solar installer in the state of New York. SUNation Service is a division of SUNation Energy that provides a wide range of services that are necessary for maintaining a customer’s solar system. SUNation Energy is based in Ronkonkoma, New York.

Buy -