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