Financial Advisor
Digi International, Inc.
M&A Advisory
Has Acquired
Transaction Details
- On October 23, 2017, Digi International, Inc. (“Digi”), announced that it has acquired TempAlert for $45 million in cash plus future earn-out incentives
- 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
- The acquisition of TempAlert doubles the Smart Solutions team to over 100 professionals, allowing Digi to offer its customers unprecedented domain expertise and support
- TempAlert CEO Harry Schechter and the TempAlert team will become part of the Digi Smart Solutions team and Schechter will report to Digi COO Kevin Riley
- Stephens Inc. served as exclusive financial advisor to Digi
About the company
Digi International, Inc.
Digi International (NASDAQ: DGII) is a leading global provider of business and mission-critical Internet of Things (IoT) products and services. They help their customers create next-generation connected products and deploy and manage critical communications infrastructures in demanding environments with high levels of security, relentless reliability and bulletproof performance. Founded in 1985, they have helped their customers connect over 100 million things, and growing.
TempAlert
TempAlert was founded in 2005 to transform how organizations sense, monitor, and make decisions. TempAlert automates monitoring for food and medication safety and compliance, and monitors critical equipment and tanks for product quality and preventative maintenance. Today, TempAlert has earned the trust of the most critical government, commercial, and non-profit institutions in the world. The TempAlert systems enable real-time sensor-driven decisions at over 2,000 organizations including Walmart, CVS Health, SpaceX, Apple, Coca-Cola, McDonald’s, and the U.S. Department of State.
Source: Digi Press Release
-
This material has been prepared solely for informative purposes as of its stated date and is not a solicitation, or an offer, to buy or sell any security. It does not purport to be a complete description of the securities, markets or developments referred to in the material. Information included in the material was obtained from external sources which we consider reliable, but we have not independently verified such information and do not guarantee that it is accurate or complete. Such information is believed to be accurate on the date of issuance of the material. No subsequent publication or distribution of this material shall mean or imply that any such information or opinion remains current at any time after the stated date of the material. We do not undertake to advise you of any changes in any such information or opinion. Additional information is available upon request.