Digi International Inc. announced Tuesday that it has acquired Connecticut-based Ventus Holdings, which secures virtual networks related to ATMs, casinos, cash registers and digital signage.
Hopkins-based Digi paid $347.4 million in cash for Ventus and said the acquisition will allow it to strengthen its position by providing software and subscription plans along with its hardware.
To finance the deal, Digi secured a $350 million debt facility from BMO Harris Bank.
“Our primary goal is to simplify the deployment and management of sophisticated and distributed enterprise networks,” said Ron Konezny, president and CEO of Digi International (Nasdaq: DGII), in a statement. “Our acquisition of Ventus leverages our unique understanding of the evolving connectivity needs and challenges enterprises face today — from wide geographic footprints to large numbers of dynamic and intelligent endpoints."
Cool Offices: Digi International
Steve Glaser, who will move from chief operating officer of Ventus to general manager of Ventus under Digi's ownership, said, “Collectively, our world-class hardware and software solutions, network expertise, engineering talent, and exceptional client support will create significant value and innovation for enterprises around the world.”
