Digi InternationalÂ®, (NASDAQ: DGII), (www.digi.com), a global provider of Internet of Things (IoT) products and services, has announced that it has acquired TempAlert, a provider of automated, real-time temperature monitoring and task management solutions for the healthcare, industrial and foodservice industries, the company said.
TempAlert will join the Digi Smart Solutionsâ¢ team. Digi purchased Boston-based TempAlert for USD 45 million in cash plus future earn out incentives.
With its origins at the Massachusetts Institute of Technology, TempAlert is now in use at more than 20,000 customer sites including Walmart, CVS Health, SpaceX, Apple, Coca-Cola, McDonald´s, and the US Department of State. With its fourth strategic acquisition in 24 months, Digi is a provider of the space with nearly 35,000 customer sites and a deep presence in the healthcare, transportation, industrial and foodservice markets. In aggregate, the Digi Smart Solutions team offers more than 25 years of condition-based monitoring experience gained through managing more than 6 billion sensor readings.
Digi Smart Solutions improves the integrity of product quality and safety while simultaneously lowering costs, achieving higher levels of customer satisfaction and improving brand reputation. Digi´s automated, real-time monitoring solutions combined with task management software also address the needs of customers with unique challenges that span operational and safety regulatory requirements.
Stephens Inc. served as exclusive financial advisor to Digi on the transaction.
Digi International is a global provider of business and mission-critical Internet of Things (IoT) products and services.
TempAlert was founded in 2005 to transform how organizations sense, monitor, and make decisions. TempAlert automates monitoring for food and medication safety and compliance, and monitors critical equipment and tanks for product quality and preventative maintenance.