Compact Form Factor, Low-Power Serial-to-Cellular Modem Delivers Connectivity for Remote Control of Industrial Equipment

IRVINE, Calif., March 20, 2024 (GLOBE NEWSWIRE) -- Lantronix Inc. (NASDAQ: LTRX), a global provider of compute and connectivity IoT solutions, today announced the addition of the new M114 CAT-1BIS modem to its family of M110 mobility solutions. Available now in EMEA markets, the M114 CAT-1BIS is a serial-to-cellular modem that comes pre-configured with Lantronix’s new Percepxion™ IoT software to provide secure, comprehensive device lifecycle management at the edge.

“The cellular router and gateway market is driven by the growing need to connect assets and workforces in remote and temporary locations as enterprises digitalize their operations,” said Jacques Issa, vice president of Marketing at Lantronix Inc. “A trusted resource for IoT solutions that deliver reliable and secure connectivity at the edge, Lantronix is pleased to expand its M110 mobility solutions family with the new M114 CAT-1BIS modem.”

According to Berg Insight, the estimated annual global shipments of cellular modems/gateways amounted to 5.6 million units in 2022, which generated annual revenues of $1.4 billion with the market value in the European region accounting for $366 million. Berg Insight also forecasts that the global market will grow at a CAGR of 12.1 percent in the next five years, reaching $2.5 billion in 2027.

Delivered in a cost-effective, small form factor, the low-power M114 CAT-1BIS modem provides serial-to-cellular communication with the coverage, reliability and speeds of the existing CAT-1 network, using a single antenna design. It is ideal for industrial applications, including automation, M2M, door control systems, escalators, elevators and machine sensors.

The M114BIS modem’s key features include:

Learn more about Lantronix’s M110 series gateways here.

About Lantronix
Lantronix Inc. is a global provider of compute and connectivity IoT solutions that target high-growth industries including Smart Cities, Automotive and Enterprise. Lantronix’s products and services empower companies to succeed in the growing IoT markets by delivering customizable solutions that address each layer of the IoT Stack. Lantronix’s leading-edge solutions include Intelligent Substations infrastructure, Infotainment systems and Video Surveillance, supplemented with advanced Out-of-Band Management (OOB) for Cloud and Edge Computing.

For more information, visit the Lantronix website.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Any statements set forth in this news release that are not entirely historical and factual in nature, including without limitation statements related to our solutions, technologies and products and expectations regarding our management and our future growth and profitability. These forward-looking statements are based on our current expectations and are subject to substantial risks and uncertainties that could cause our actual results, future business, financial condition, or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. The potential risks and uncertainties include, but are not limited to, such factors as the effects of negative or worsening regional and worldwide economic conditions or market instability on our business, including effects on purchasing decisions by our customers; our ability to mitigate any disruption in our and our suppliers’ and vendors’ supply chains due to the COVID-19 pandemic or other outbreaks, wars and recent tensions in Europe, Asia and the Middle East, or other factors; future responses to and effects of public health crises; cybersecurity risks; changes in applicable U.S. and foreign government laws, regulations, and tariffs; our ability to successfully implement our acquisitions strategy or integrate acquired companies; difficulties and costs of protecting patents and other proprietary rights; the level of our indebtedness, our ability to service our indebtedness and the restrictions in our debt agreements; and any additional factors included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2023, filed with the Securities and Exchange Commission (the “SEC”) on Sept. 12, 2023, including in the section entitled “Risk Factors” in Item 1A of Part I of such report; in our Quarterly Report on Form 10-Q for the fiscal quarter ended Dec. 31, 2023, filed with the SEC on Feb. 8, 2024, including in the section entitled “Risk Factors” in Item 1A of Part II of such report; as well as in our other public filings with the SEC. Additional risk factors may be identified from time to time in our future filings. The forward-looking statements included in this release speak only as of the date hereof, and we do not undertake any obligation to update these forward-looking statements to reflect subsequent events or circumstances.

© 2024 Lantronix, Inc. All rights reserved. Lantronix is a registered trademark. Other trademarks and trade names are those of their respective owners.

Lantronix Media Contact:
Gail Kathryn Miller
Corporate Marketing &
Communications Manager
media@lantronix.com
949-212-0960

Lantronix Analyst and Investor Contact:
Jeremy Whitaker
Chief Financial Officer
investors@lantronix.com
949-450-7241

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/47250d57-73d8-480e-93a8-f4235addd019

This item of content is a press release from a third party provider who make no warranties or representations in connection with this content and therefore PA can make no warranties in respect of its use.

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