MINNETONKA, Minn.—Digi International Inc. said it will buy MaxStream Inc. a privately held firm based in Lindon, Utah, that works in the wireless device networking space. The acquisition is characterized as a merger transaction for $38.5 million in cash and stock.
Digi International, which is traded on the Nasdaq exchange, focuses on connecting commercial and industrial devices via embedded and packaged products, such as serial, USB and Ethernet, using both cellular and Wi-Fi. MaxStream, which produces wireless modem networking for electronic devices, has 49 employees and generated more than $10 million in revenues last year.
