Hopkins internet of things company making $140M acquisition

▤ Summary

In its biggest acquisition deal ever, Digi International Inc. has agreed to pay $140 million for a critical IT infrastructure company whose customers include Target, Best Buy and Netflix. Digi is a Hopkins-based wireless-communication company that provides internet of things connectivity products and solutions and had annual revenue of $228 million for its fiscal year ended Sept. 30, 2018. Opengear was founded in 2004, and its software and appliances help customers manage data centers and remote networks. "We are buying a growing and profitable company," Konezny explained at an employee meeting. The deal is expected to close by the end of the year and is dependent on customary conditions.

▦ Linked Companies

Opengear, Inc.

$1M to $5M