Digi International, a leading IoT connectivity products manufacturer has acquired Accelerated Concepts, a provider of secure, enterprise-grade, cellular (LTE) networking equipment for primary and backup connectivity applications. Accelerated Concepts has demonstrated strong top line growth with a five year CAGR of more than 25 percent. Digi acquired the company for approximately $17 million in cash with a potential for future earn-out consideration based on top line performance.
Founded in 2006, Accelerated Concepts provides cellular business continuity solutions to OEM and commercial customers. It's suite of secure, compact and affordable LTE routers and network appliances are easy to install and provide network managers with primary failover and out-of-band management solutions, while its AcceleratedView device management software provides customers with a centralized portal to provision, manage and upgrade devices remotely. The company is headquartered in Tampa, Florida, with offices in Chicago, Illinois, and Australia.
The acquisition of Accelerated significantly enhances Digi's existing cellular product lines and immediately extends the company's market reach with a line of commercial routers and network appliance products. These products provide a strong complement to Digi's industrial, M2M cellular routers and network server product lines to give customers the right product choice for their applications. Accelerated will continue to maintain its existing office locations with employees becoming part of the Digi team.
