Sarian Systems sells to Digi International
Nasdaq-listed Digi scoops the private UK business
Sarian Systems has been bought by the Nasdaq-listed company Digi International in a deal worth $30.5m (£15.4m).
Sarian manufactures wireless routing equipment and has developed its own operating system and software.
The company has a vertical approach to its market and has developed a strong customer base in areas such as ATMs, retail and payment systems and lottery terminals.
The purchase price is partly based on Sarian’s balance sheet which is estimated to be in the region of $2.5m.
Its founder, Andrew Hood, says he believes the future of his business is now very bright and expects to be expanding internationally.
“With the great cultural and technical fit we see Digi as the ideal partner to take the fast growing business that we have in Europe, Scandinavia and Southern Africa into many other geographic regions,” he said.
“Digi’s market-leading drop-in networking technology and our flexible wired and wireless IP routing capability create a powerful global combination.”
Digi’s chief executive officer Joe Dunsmore says he believes that the integration will work well as the business is ‘highly complementary’ to his company.
“As we got to know the Sarian team and business, it quickly became apparent that this acquisition was a great fit on many levels,” he said.
“We’re acquiring a high-growth, profitable wireless business that can be expanded from Europe into other parts of the world.
“We have very similar corporate cultures and vertical go-to-market strategies, so integration will be straightforward.”
© Crimson Business Ltd. 2008