Via News Release
“MINNETONKA, Minn., Oct. 23, 2017 — Digi International, (NASDAQ: DGII), a leading global provider of Internet of Things (IoT) products and services, today announced that it has acquired TempAlert, a provider of automated, real-time temperature monitoring and task management solutions for the healthcare, industrial and foodservice industries. TempAlert will join the Digi Smart Solutions™ team. Digi purchased Boston-based TempAlert for $45 million in cash plus future earn out incentives.”
With its origins at the Massachusetts Institute of Technology, TempAlert is now in use at more than 20,000 customer sites including Walmart, CVS Health, SpaceX, Apple, Coca-Cola, McDonald’s, and the U.S. Department of State. With its fourth strategic acquisition in 24 months, Digi is a leader in the space with nearly 35,000 customer sites and a deep presence in the healthcare, transportation, industrial and foodservice markets. In aggregate, the Digi Smart Solutions team offers more than 25 years of condition-based monitoring experience gained through managing more than 6 billion sensor readings.
Digi Smart Solutions improves the integrity of product quality and safety while simultaneously lowering costs, achieving higher levels of customer satisfaction and improving brand reputation. Digi’s automated, real-time monitoring solutions combined with task management software also address the needs of customers with unique challenges that span operational and safety regulatory requirements.
The TempAlert solution will not only be supported and enhanced, but also leveraged within Digi’s existing products and services to expand its advanced portfolio of solutions. Digi is excited to welcome TempAlert CEO Harry Schechter and the TempAlert team as employees of Digi Smart Solutions. Schechter will play a leading role in the IoT strategy going forward. Schechter will report to COO Kevin Riley.
“The acquisition of TempAlert doubles our Smart Solutions team to over 100 professionals, allowing us to offer our customers unprecedented domain expertise and support,” said Ron Konezny, president and chief executive officer, Digi International. “This acquisition firmly establishes Digi as a leader in condition-based monitoring, such as temperature and vibration, task management solutions and analytics.”
“This is a perfect match of expertise and a shared vision of the market opportunity in front of us,” said Schechter. “The combination of Digi’s market presence and complementary technology in conjunction with the TempAlert customer base presents a fantastic opportunity for Digi Smart Solutions.”