Digi International, Inc.

Canaccord Genuity acted as Financial Adviser to Digi International (NASDAQ: DGII) on $140 million acquisition of Opengear

Canaccord Genuity is pleased to announce that on November 7, 2019, Digi International, Inc. (NASDAQ: DGII), a leading global provider of Internet of Things (IoT) connectivity products, software and services has signed a definitive agreement to acquire Opengear, Inc., a provider of secure IT infrastructure products and software.  Canaccord Genuity acted as Financial Adviser to Digi International.

Digi agreed to acquire Opengear for upfront cash of approximately $140 million with a potential for contingent consideration of up to an additional $15 million based on revenue performance through 2020.  To finance the purchase, Digi expects to use a combination of cash on hand and debt financing under a committed $150 million facility. 

Digi International (Nasdaq: DGII) is a leading global provider of business and mission-critical Internet of Things (IoT) connectivity products and solutions. The Company helps customers create next-generation connected products and solutions to deploy, monitor and manage critical communications infrastructures and compliance standards in demanding environments with high levels of security, relentless reliability and bulletproof performance. Founded in 1985, they have helped customers connect over 100 million things, and growing.

The Canaccord Genuity team consisted of Jason Partenza, David Istock and Corey Elliott.