O’Melveny & Myers LLP advised Lantronix on the deal.
Lantronix (Nasdaq:LTRX) announced a securities purchase agreement to acquire Transition Networks and Net2Edge, the electronics and software businesses of Communications Systems Inc. (Nasdaq:JCS).
Irvine, Calif.-based Lantronix facilitates development and management of innovative M2M and Out of Band Management solutions for clients across industries including manufacturing, retail, medical, security, energy, government, and more.
Communications Systems Inc., of Minnetonka, Minn., is a connectivity technology company that develops physical communications infrastructure for global broadband networks. Its business unit Transition Networks provides network integration solutions to enhance bandwidth, security, and network management. Net2Edge engineering, marketing, and business development products ensure seamless upgrades to clients switching from legacy networks to high-speed services.
The base price of US$25 million to be paid by Lantronix will be augmented by up to US$7 million in earnout payments.
The O’Melveny team representing Lantronix was led by Silicon Valley/San Francisco partner Noah Kornblith (Picture) and included partners Warren Lazarow and Jennifer Taylor, associate Maiah Parks, and of counsel Loren Weber.
Involved fees earner: Noah Kornblith – O’Melveny & Myers LLP; Warren Lazarow – O’Melveny & Myers LLP; Maiah Parks – O’Melveny & Myers LLP; Jennifer Taylor – O’Melveny & Myers LLP; Loren Weber – O’Melveny & Myers LLP;
Law Firms: O’Melveny & Myers LLP;