Digi acquires Jolt Software for ~$145.5M; updates FY2025 guidance

DIGI INTERNATIONAL INC

Acquired Jolt for ~$145.5M cash, funded from $150M credit facility draw; ~$70M remains available.
Jolt generated >$20M ARR in FY ended Jan 2025, with YoY ARR growth exceeding Digi's IoT Solutions segment.
Transaction expected immediately accretive to adjusted EPS; Digi targets $11M annualized adjusted EBITDA synergies by end of 2026.
Full-year FY2025 guidance: revenue ~1% growth, ARR ~28% growth, adjusted EBITDA +8-9% YoY.
Q4 FY2025 outlook: rev $108.5-112.5M, adj EBITDA $26-27.5M, adj EPS $0.48-0.52.

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