Digi International acquires Ventus Holdings for $347.4M cash, largest acquisition in history

DIGI INTERNATIONAL INC

Purchase price of $347.4M cash; financed with $350M debt facility from BMO Harris.
Ventus is a leader in Managed Network-as-a-Service; deal is just over 8x annualized recurring revenues.
Deal expected to be accretive to non-GAAP adjusted EBITDA and adjusted EPS; mildly non-accretive on GAAP EPS in FY2023 due to interest.
Steve Glaser (former COO of Ventus) becomes General Manager of Ventus under Digi.
Digi will report Ventus' performance as part of its IoT Solutions segment.

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