EXHIBIT 99.1
Thursday January 10, 9:00 am Eastern Time
Press Release
Lantronix, Inc. to Acquire Building and Home Automation Software Developer
Premise Systems, Inc.
Deal Strengthens Lantronix' Device Networking Solutions With Advanced
Automation Software That Provides Enhanced Management Capabilities And Lowers
Integration Costs
IRVINE, Calif., Jan. 10 /PRNewswire-FirstCall/ -- Lantronix, Inc. (Nasdaq: LTRX
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- - news), announced it has acquired Premise Systems Inc., of Redmond, WA, a
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provider of advanced automation software solutions, pending acceptance of
certificates of merger filed today with the secretary of states of Iowa and
Delaware. Although terms of the agreement were not disclosed, the pact positions
Lantronix to capitalize on the multi-billion-dollar building and home automation
markets.
Lantronix Device Networking solutions add intelligence to devices like lighting
control systems, security and HVAC systems, entertainment equipment and
household appliances, allowing them to be connected to a network and the
Internet for real-time access to information. Premise Systems' advanced SYS(TM)
software suite complements Lantronix Device Networking products by providing
superior management and control capabilities for devices that have been network-
and Internet-enabled.
"The acquisition of Premise Systems enables Lantronix to define ourselves as a
complete device networking solutions provider," said Fred Thiel, CEO, Lantronix.
"From state-of-the-art automation software to real-time operating systems to
hardware, Lantronix is now a leading provider of complete building, home and
factory automation solutions. This acquisition allows Lantronix to capitalize on
the expanding building and home automation markets."
Premise Systems' software is installed as a value-added service in a home or
commercial gateway and supplies a set of software development tools that allows
manufacturers, integrators and installers to design, publish and manage
solutions for end-users. With SYS, building and home automation is greatly
simplified and integration costs are reduced.
"Since we began working with Lantronix, both companies have seen the technical
barriers to networking and controlling devices almost completely disappear,"
said Dan Quigley, CEO, Premise Systems. "Formalizing our relationship through
this deal should allow us to refine our technologies, making them more
cost-effective and easy to implement, and extend our services to a wider
audience of consumers."
Lantronix and Premise Systems are both members of the Microsoft Universal Plug
and Play Forum, an industry consortium dedicated to creating standards that
greatly simplify the implementation of
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device networks in home and corporate environments. For the second consecutive
year, Lantronix and Premise Systems will collaborate at the Consumer Electronic
Show (CES), providing both hardware and software solutions to connect dozens of
devices and appliances in the Microsoft connected home display.
Premise brings Lantronix a group of talented software engineers with experience
from companies like Microsoft. In addition to engineering talent and its SYS
software suite, Premise opens up new opportunities and strengthens Lantronix'
relationships with companies that are pioneering the Connected Home.
In related news, Premise entered into a commercial agreement in mid- December
with SMART to jointly deliver home networking and automation systems. SMART is a
company formed last year as a result of a partnership and investments between
Smart LLC, General Electric Industrial Systems, and Microsoft, introducing the
new brand name, GE SMART for the Connected Home. Premise Systems teamed up with
SMART to deliver easy-to-use GE SMART Connected Home consumer automation
systems.
About Premise Systems, Inc.
With offices in Redmond, Washington, and Ames, Iowa, Premise Systems is
innovating the next generation in networking software products that leverage the
resources of the Internet by interconnecting and adding intelligence to
thousands of electronic devices, including home entertainment equipment,
appliances, lighting, security and environmental control systems. Premise
Systems SYS(TM) Automation Software products and services are changing the way
people work, live and play, making it easy for users to manage and control
everyday common devices. For more information, visit www.premisesystems.com.
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About Lantronix
Lantronix, Inc. (Nasdaq: LTRX - news) is a provider of hardware and software
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solutions ranging from systems that allow users to remotely manage network
infrastructure equipment to technologies that network-enable devices and
appliances. Lantronix was established in 1989, and its worldwide headquarters
are in Irvine, Calif. For more information, visit the company on the Internet at
www.lantronix.com.
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This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, which are intended to be covered by
the safe harbors created thereby and the Safe Harbor Provisions of the Private
Securities Litigation Reform Act of 1995. Statements regarding the benefits of
consummating the acquisition of Premise Systems are forward- looking looking,
and are subject to significant risks and uncertainties, including the risk that
the acquisition might not yield the anticipated benefits for a variety of
reasons, including the possibility that we will not be able to combine both
companies' products to achieve synergy in the areas of manufacturing,
engineering and technical support. Acquisitions often consume significant
attention of the management and employees of the companies involved, which may
result in a reduction in productivity. If we fail to
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consummate the acquisition, or if the acquisition does not provide the
anticipated benefits, our business could be harmed. Because of these and the
other risk factors identified in our SEC filings our actual results, events and
performance may differ materially. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date
hereof. Lantronix undertakes no obligation to release publicly the result of any
revisions to these forward-looking statements that may be made to reflect events
or circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
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