Thursday, July 27, 2006

MaxStream Purchased For $38.5M

Lindon, Utah-based MaxStream has been purchased by Digi International, a Minneapolis, Minnesota electronics company. Digi said this afternoon that it would paid $19.25M in cash, and $19.25M in Digi stock for MaxStrea, which is a manufacturer of wireless devices. MaxStream employs 49 in Lindon, and had had revenues of $10.4M in 2005. MaxStream's wireless products are used for monitoring control and electronic devices, and utilize the Zigbee wireless standard. Digi said it will retail the MaxStream office in Lindon, which will become a wholly owned subsidiary of the firm.