Digi International To Acquire Ctek For Undisclosed Terms

Internet of Things (IoT) connectivity products and services provider Digi International Inc DGII acquired Ctek, Inc, a company specializing in remote monitoring and industrial controls solutions.
The financial terms of the transaction remain undisclosed.
Digi provides customers with both battery and hardwired options to control and monitor critical infrastructure through the acquisition.
Additionally, Ctek's offering and existing client portfolio are likely to further Digi's reach in a rapidly expanding market.
Digi VP Brian Kirkendall said that the addition of Ctek's blue-chip customer base and user-focused platform positions Digi to expand its portfolio of purpose-built Industrial IoT solutions.
Ctek offered companies a complete SCADA system.
Ctek's SkyCloud complements Digi's Connect Sensor+ with its intuitive visual interface in addition to automation control and a robust application suite.
Digi held $127.2 million in cash and equivalents as of Mar. 31, 2021.
Price action: DGII shares traded lower by 1.60% at $19.70 on the last check Tuesday.