Multi-Billion Dollar Distribution Leader to Sell and Distribute Lantronix xPico Wi-Fi Module and other IoT Enabling Solutions throughout North and South America
Irvine, Calif. – Oct. 28, 2015 – Lantronix, Inc. (NASDAQ: LTRX) – a specialized networking company providing smart IoT and M2M connectivity solutions – today announced it has signed a distribution agreement with the Avnet Electronics Marketing Americas business region of Avnet, Inc., (NYSE: AVT) a $27 billion leading technology distributor. Under terms of the agreement, Avnet will distribute Lantronix’s IoT-enabling modules and solutions throughout North and South America.
“Avnet is a strategic distribution partner of Broadcom for the WICED™ IoT platform, which we utilize in our xPico® Wi-Fi IoT modules. Our agreement with Avnet is another milestone in our continuing efforts to expand our sales channels and the direct result of our deepening relationship with Broadcom. We believe our new relationship with Avnet will enhance the position of Lantronix IoT-enabling solutions in the marketplace,” said Kurt Busch, CEO of Lantronix. “Today, less than one-fourth of companies worldwide have deployed an IoT/M2M solution, despite nearly 80% expressing the desire to do so within the next two years. Lantronix solutions allow companies to leverage the power of technologies like the WICED™ platform to decrease time to market for their devices, and we look forward to working with Avnet and Broadcom to deliver solutions that help more companies leverage the power of the Internet of Things.”
“Lantronix has carved out a strong niche in the IoT market – providing robust, secure, and easy to deploy solutions that provide OEM manufacturers and designers with the fastest path to production for embedded Wi-Fi,” said Alex Luorio, Senior Vice President, Supplier Management and Business Development for Avnet Electronics Marketing, Americas. “As a strategic distributor of the Cypress WICED platform, we think Lantronix solutions are a great match for WICED customers seeking to quickly address key issues of security and mobility in IoT and M2M adoption.”
“We are making a concerted effort on a global scale to build out our platform for the Internet of Things – in particular the continuous expansion of our Wireless Internet Connectivity for Embedded Devices (WICED) platform,” said Stephen DiFranco, Senior Vice President of Channel Sales for Broadcom. “A key driver in expanding the continued adoption of WICED as an IoT solution lies in the millions of connected ‘things’ – and that’s where the Lantronix xPico Wi-Fi really shines. We look forward to a continued partnership with Lantronix and Avnet as we continue to advance the Internet of Things into the enterprise.”
Ensure Your Designs are IoT-Ready
Whether new designs require SOMs, Wi-Fi modules, single board computers, software development kits, or more, Lantronix offers a full suite of embedded (OEM) offerings – aka IoT Modules – to enhance the value and utility of new designs, speed time to market, and enable rapid deployment of IoT-based designs.
The Company’s IoT Module technology (products, solutions and software) are embedded inside modern electronic systems and equipment to provide secure network connectivity, application hosting, protocol conversion, mobile device access, and other functions. Among others, products in the IoT Modules business line include: xPico, xPico Wi-Fi, xPort and xPort Pro, and PremierWave EN.
Lantronix, Inc. (NASDAQ: LTRX) is a specialized networking company providing M2M (machine to machine) and IoT (Internet of Things) solutions. Our products deliver secure connectivity, device management and mobility for today’s increasingly connected world. By networking and managing devices and machines that have never before been connected, we enable our customers to realize the possibilities of the Internet of Things. Founded in 1989, Lantronix pioneers robust, intelligent and easy to deploy solutions for mission critical applications in a wide range of industries, including data center, medical, security, industrial, transportation, retail, financial and government. Lantronix is headquartered in Irvine, California, with offices in Europe, Asia and Japan. For more information, visit www.lantronix.com.
Learn more at the Lantronix blog, www.lantronix.com/blog, featuring industry discussion and updates. To follow Lantronix on Twitter, please visit www.twitter.com/Lantronix. View our video library on YouTube at www.youtube.com/user/LantronixInc or connect with us on LinkedIn at www.linkedin.com/company/lantronix.
This news release contains forward-looking statements, including statements concerning our sales channel expansion efforts, our relationships with certain customers, distributors and partners, and marketplace visibility of our products. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. We have based our forward-looking statements on our current expectations and projections about trends affecting our business and industry and other future events. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. Forward-looking statements are subject to substantial risks and uncertainties that could cause our results or experiences, or future business, financial condition, results of operations or performance, to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. Some of the risks and uncertainties that may cause actual results to differ from those expressed or implied in the forward-looking statements are described in “Risk Factors” in our Annual Report on Form 10-K filed with the Securities and Exchange Commission, or SEC, as well as in our other filings with the SEC. In addition, actual results may differ as a result of additional risks and uncertainties of which we are currently unaware or which we do not currently view as material to our business. For these reasons, investors are cautioned not to place undue reliance on any forward-looking statements. The forward-looking statements we make speak only as of the date on which they are made. We expressly disclaim any intent or obligation to update any forward-looking statements after the date hereof to conform such statements to actual results or to changes in our opinions or expectations, except as required by applicable law or the rules of the NASDAQ Stock Market, LLC. If we do update or correct any forward-looking statements, investors should not conclude that we will make additional updates or corrections.
Lages & Associates, Inc.
+44 1252 717040
Mark D. Tullio
© 2015 Lantronix, Inc. Lantronix and xPico are registered trademarks of Lantronix, Inc. in the United States and certain other countries. WICED is a trademark of Broadcom Corporation. All other trademarks and trade names are the property of their respective holders. Specifications subject to change without notice. All rights reserved.