Digi International to Acquire Ctek
Acquisition Delivers Wireless and Wired Solutions for Industrial Monitoring and Control, Bolstering Digi’s Unique Suite of Edge Automation Solutions
HOPKINS, Minn., July 6, 2021 -- Digi International, (NASDAQ: DGII, www.digi.com), a leading global provider of Internet of Things (IoT) connectivity products and services, today announced it has acquired Ctek, Inc., a company specializing in solutions for remote monitoring and industrial controls. Terms of the transaction were not immediately disclosed.
Combining focused hardware and software into a complete offering, Ctek targets industries that require ruggedized products for automation and remote management, such as lighting, agriculture/irrigation, and water/waste-water management. Through the acquisition of Ctek, Digi is uniquely positioned to provide customers with both battery and hardwired options for the control and monitoring of critical infrastructure, from complex off-shore oil rig locations to localized deployments such as municipal park lighting. In addition, Ctek’s offering and existing client portfolio is set to further Digi’s reach in a rapidly expanding market.
“We are proud to welcome Ctek to the Digi family,” said Brian Kirkendall, General Manager and Vice President of Infrastructure Management for Digi International. “The addition of Ctek’s blue-chip customer base and user-focused platform positions Digi to expand our portfolio of purpose-built Industrial IoT solutions. This strategic move marks another significant step toward enabling the intelligent edge for our customers.”
A trusted industry mainstay for nearly 20 years, Ctek gives companies a complete SCADA system. In addition to automation control and a robust application suite, Ctek’s SkyCloud complements Digi’s Connect Sensor+ with its intuitive visual interface that consolidates access and management of an entire network of individual endpoints.
“This is a tremendous opportunity for Ctek, and we cannot think of a better industry partner than Digi,” says Phil Sutter, President, Ctek. “The company not only has a stellar reputation as a software-first innovator but also a lengthy track record and legacy of excellence. It’s important to us—and very exciting—to join forces with an industry leader that has deep expertise, a rock-solid business foundation, and the ability to support customers with the added benefit of a broad infrastructure and increased product depth.”
Ctek will be integrated into Digi’s portfolio to build out its complete, advanced enterprise and industrial connectivity solutions.
About Digi International
Digi International (NASDAQ: DGII) is a leading global provider of IoT connectivity products, services and solutions. We help our customers create next-generation connected products and deploy and manage critical communications infrastructures in demanding environments with high levels of security and reliability. Founded in 1985, we’ve helped our customers connect over 100 million things and growing. For more information, visit Digi's website at www.digi.com.
Ctek, Inc. creates remote automation and communications solutions for industrial applications in irrigation, water/waste-water management, agriculture and more. Combining hardware manufacturing and software offerings, Ctek gives companies that require ruggedized products a higher level of control and visibility than conventional solutions. For more information, visit Ctek’s website at www.ctekproducts.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These include statements regarding, but not limited to, the potential impacts of Digi’s acquisition of Ctek. Forward-looking statements can be identified by the use of words such as "may," "will," "plan," "should," "expect," "anticipate," "estimate," "continue" or comparable terminology. Forward-looking statements involve risks and uncertainties that could cause actual results or developments to differ materially from those indicated due to a number of factors affecting Digi's operations, markets, products and services. Digi identifies the principal risks and uncertainties that impact its performance in its public reports filed with the SEC, including the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition" sections of Digi's most recent Annual Report on Form 10-K, as may be supplemented or amended by Digi's subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date on which they are made, and Digi assumes no obligation to update any forward-looking statements, except as required under applicable law.
Peter Ramsay / Valerie Christopherson
Global Results Communications for Digi
Senior Vice President, Chief Financial Officer and Treasurer