TempAlert bought by Digi Intl. for $45M cash
Digi International, the maker of RF modules, gateways, cellular routers and other IoT/M2M connectivity products announced last week that it has acquired TempAlert, a startup offering remote temperature monitoring system for $ 45 million in cash plus future earn-out incentives.
TempAlert is the fourth startup Digi has acquired over the past two years. The acquisition streak started with the company acquiring cloud computing service provider Etherios back in Nov 2015 for $ 20M followed by two more acquisitions i.e. FreshTemp and Smart Temps in Nov 2016 and January this year respectively.
The high-profile acquisition of TempAlert, the most expensive of the four buyouts signifies Digi’s consolidation of its ‘connected cold-chain’ practice. At the time of acquisition, TempAlert had 20,000 customers using its temperature monitoring solution.
The solution consists of a suite of wireless sensor devices, a cloud-based monitoring dashboard, and an analytics and reporting module. The sensor suite consists of a rugged casing that contains temperature sensors accompanied with cellular/Ethernet gateways that act as the connection hub for all wireless sensors.
Interestingly, another company called Belden Inc. (NYSE: BDC), a global leader in high quality, end-to-end signal transmission solutions for mission-critical applications offered, and later rescinded its offer to acquire Digi International.