Lantronix partners with investment fund, secures major contract

Lantronix, Inc. (NASDAQ:LTRX) has entered a cooperation agreement with Chain of Lakes Investment Fund, LLC. Under the agreement, James C. Auker will join the Lantronix Board of Directors and run for election at the 2025 Annual Meeting of Stockholders. The investor group has also made standstill and voting commitments.

Following the agreement, Lantronix announced a multi-year deal with a Tier-1 U.S. mobile network operator to digitally transform the management of over 50,000 backup power systems across wireless cell sites. This will involve using Edge gateways and cloud-based software for real-time monitoring, improving network reliability, and reducing operational costs.

Lantronix, Inc. (NASDAQ:LTRX) provides compute and connectivity IoT solutions to high-growth industries, including robotics and AI engineering services. The company aims to maximize value for all shareholders and has welcomed Jim Auker to its Board to help execute strategic priorities. CEO Saleel Awsare expressed appreciation for the constructive discussions with Chain of Lakes.

Read more at Yahoo Finance: Lantronix Enters Into a Cooperation Agreement with Chain of Lakes Investment Fund