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Communications Systems, Inc. Enters Into Purchase Agreement With Lantronix, Inc.

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What to know about the purchase of Communications Systems, Inc. (CSI) by Lantronix, Inc.:

  • CSI, Minnetonka-based telecommunications company, has entered into a purchase agreement with Lantronix, a software company based in California
  • The $25 million sale of CSI’s Net2Edge and Transition Networks businesses (total 2020 revenue of $34.5 million) will also include up to $7 million in earnout payments based on revenue goals for two 180-day periods after the sale
  • The sale is expected to close in June 2021
  • CSI will license office and warehouse space and provide IT and administrative services in Minnetonka for at least a 12-month transition period, but there are no indications of employee transfers to Lantronix or a continued Minnesota presence beyond that at this time

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Alex Skjong
Alex Skjong
Alex oversees the content produced for BETA, Twin Cities Startup Week, and tech.mn. When he’s not writing or editing, there’s a good chance he’s enjoying a refreshing brew and explaining the merits of heavy metal (of which there are many).

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