DGII - Digi International acquires Ventus for $347.4M in cash sees accretion
Digi International (NASDAQ:DGII) has acquired Connecticut-based Ventus Holdings, a leader in Managed Network-as-a-Service solutions that simplify the complexity of enterprise wide area network connectivity. The acquisition will enable the company to provide software and subscription service plans along with its award-winning hardware, thereby strengthening its position as a supplier of complete, high-value networking solutions. Digi acquired Ventus for $347.4M in cash, which is just over eight times annualized recurring revenues. To finance the purchase, Digi secured a $350M debt facility through existing lender BMO Harris Bank N.A. and its affiliates. Digi expects the acquisition to be immediately accretive to its non-GAAP measurements of adjusted EBITDA and adjusted EPS.
For further details see:
Digi International acquires Ventus for $347.4M in cash, sees accretion