Bank / Credit Union

Digi International inks acquisition of Ventus

Image via Istock.com

November 18, 2021

Digi International, an internet-of-things product provider, has acquired Ventus Holdings, a managed-network-as-a-service solutions provider for ATMs, point-of-sale, kiosks, digital signage, retail and more, according to a press release.

"Our primary goal is to simplify the deployment and management of sophisticated and distributed enterprise networks," Ron Konezny, president and CEO of Digi International, said in the release. "Our acquisition of Ventus leverages our unique understanding of the evolving connectivity needs and challenges enterprises face today — from wide geographic footprints to large numbers of dynamic and intelligent endpoints. We're proud to renew our commitment to reducing the complexities of network and endpoint connectivity, as well as simplifying the building, hosting deploying, monitoring and maintenance of secure, disruption-free WAN networks."

Digi acquired Ventus for $347.4 million in cash and will report Ventus' performance as part of its IoT solutions segment.