8/28/2002 - Lantronix announced the acquisition of Stallion Technologies Pty., an Australian based provider of solutions that enable Internet access, remote access, virtual private networking and serial connectivity. As part of the acquisition, Lantronix will acquire Stallion's EasyConnection serial-access and EasyIO multi-port serial-adapter product lines. Lantronix will provide full technical support for the customers of these product lines. In addition, the acquired assets include intellectual property that is applicable to Lantronix' existing business.
As a pioneer in serial-to-Ethernet connectivity, Lantronix sees a great deal of synergy between its solutions and the acquired products from Stallion. The acquisition will not include Stallion's VPN (virtual private network) technology, which will remain the property of its creators.
The total purchase price of the acquisition is approximately $2.6 million, consisting of a combination of cash, stock and a convertible note. Stallion's revenue has been approximately $4 million for the prior 12 months.
About Stallion Technologies (www.stallion.com)
Stallion Technologies delivers solutions that enable Internet access, remote access, virtual private networking and serial connectivity for small to medium businesses. Stallion's product range includes a variety of network access servers that provide shared Internet access, Virtual Private Networking and remote access, and a range of multi-port serial I/O adapters that deliver high-speed serial connectivity. Stallion's products are used in a range of vertical markets, including healthcare, hospitality, ticketing/vending, retail point of sale, gaming/wagering and factory automation. Stallion has offices in USA and Australia.
About Lantronix (www.lantronix.com)
Lantronix, Inc. (Nasdaq: LTRX) is a provider of hardware and software solutions ranging from systems that allow users to remotely manage network infrastructure equipment to technologies that network-enable devices and appliances. Lantronix was established in 1989, and its worldwide headquarters are in Irvine, Calif.
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