Lantronix to acquire transition networks and net2edge businesses of Communications Systems for $35m.

Lantronix, a company that designs, develops, and markets network device servers, to acquire transition networks and net2edge businesses of Communications Systems, a manufacturer and distributor of connectors and wiring devices, for $35m. “This transaction is integrally related to our previously announced merger with Pineapple Energy, a growing US operator and consolidator of residential solar, battery storage, and grid services solutions. When we announced the merger with Pineapple, we also announced we planned to substantially divest all of our existing businesses, real estate holdings, and cash, cash equivalents, and investments and distribute available sale proceeds from any pre-merger divestitures, together with other available cash in the form of a cash dividend to existing CSI shareholders prior to the effective date of the Pineapple merger," Roger Lacey, CSI Executive Chairman.