Acquisitio adds $5.3 millio of total eve ue, i cludi g $4.5 millio of a ual ecu i g eve ue (ARR) a d app oximately 125,000 asset tags u de ma ageme t with g oss ma gi s i the high-60% a ge
T a sactio i c eases La t o ix’s Softwa e & Se vices mix to mo e tha 10% of total compa y eve ue
IRVINE, Calif., July 07, 2026 (GLOBE NEWSWIRE) —
The acquisitio will add a p ove SaaS applicatio laye to La t o ix’s edge ha dwa e a d co ectivity po tfolio, expa di g its c itical i f ast uctu e mo ito i g ve tical a d accele ati g its shift towa d highe -ma gi , ecu i g- eve ue IoT solutio s. Ne o Global T acki g b i gs a established No th Ame ica custome base ac oss the fleet, mu icipal, esto atio a d i dust ial asset-t acki g ma kets, st e gthe i g La t o ix’s ability to delive i teg ated solutio s fo custome s ma agi g missio -c itical assets.
- Adds app oximately $5.3 millio of total eve ue, i cludi g $4.5 millio of a ual ecu i g eve ue (ARR), a d app oximately 125,000 asset tags u de ma ageme t.
- Adds a p ofitable SaaS busi ess with g oss ma gi s i the high-60% a ge, i c easi g La t o ix’s mix of highe -ma gi , ecu i g eve ue a d b i gi g Softwa e & Se vices to mo e tha 10% of total compa y eve ue.
- Expa ds La t o ix’s c itical i f ast uctu e mo ito i g ve tical with a established No th Ame ica custome base spa i g the fleet, mu icipal, esto atio a d i dust ial asset-t acki g ma kets.
- St e gthe s La t o ix’s full-stack value p opositio by addi g applicatio -laye domai expe tise that ca be i teg ated with La t o ix ha dwa e, co ectivity, fi mwa e a d edge compute p oducts.
- E ha ces custome expa sio oppo tu ities by combi i g Ne o Global T acki g’s i stalled base with La t o ix’s b oade IIoT po tfolio.
- Compleme ts La t o ix’s b oade g owth st ategy by addi g a othe high-value ve tical alo gside the compa y’s mome tum i d o es, ae ospace & defe se a d Edge AI-e abled i dust ial applicatio s.
- Total co side atio is app oximately $USD 11.5 millio , excludi g wo ki g capital, a d othe customa y adjustme ts a d excludi g acquisitio – elated costs.
“This acquisitio is co siste t with ou platfo m st ategy a d adva ces exactly whe e we a e looki g to take La t o ix: towa d highe -ma gi , ecu i g- eve ue solutio s that combi e ou edge ha dwa e, co ectivity a d softwa e capabilities,” said Saleel Awsa e, P eside t a d CEO of La t o ix. “At the same time, it compleme ts the st e gth we a e seei g i ou d o e a d ae ospace & defe se busi ess by expa di g i to a othe high-value g owth ve tical: c itical i f ast uctu e mo ito i g. Ne o b i gs a p ove SaaS applicatio laye , established No th Ame ica custome s, a d app oximately 125,000 asset tags u de ma ageme t, while La t o ix b i gs the edge ha dwa e, secu e co ectivity, a d fi mwa e expe tise eeded to delive a mo e complete solutio fo custome s ma agi g missio -c itical assets.”
“The ma ket i c easi gly dema ds i tellige t platfo ms that e ha ce the value of co ected ha dwa e a d ca tu o e-time device sales i to lo g-te m, ecu i g custome elatio ships,” Awsa e co ti ued. “By b i gi g the applicatio laye i -house, we gai g eate ability to customize fi mwa e, optimize device behavio , a d solve custome -specific use cases ac oss f agme ted i dust ial IoT e vi o me ts. We believe this will st e gthe ou value p opositio , i c ease custome sticki ess, a d will positio La t o ix to pu sue la ge oppo tu ities ac oss c itical i f ast uctu e a d i dust ial IoT.”
Ne o Global T acki g p ovides GPS-based vehicle a d asset t acki g fo fleet ope ato s, mu icipalities, esto atio co t acto s a d i dust ial custome s th oughout No th Ame ica. Pai i g Ne o Global T acki g with La t o ix’s gateways, edge compute, a d co ectivity p oducts adva ces the compa y’s ha dwa e-plus- ecu i g- eve ue model. The combi atio is expected to suppo t i teg ated solutio s fo fleets, mu icipal i f ast uctu e, esto atio co t acto s, a d i dust ial asset mo ito i g.
Ne o Global T acki g custome s a d cha el pa t e s ca expect co ti uity i se vice, suppo t, a d p oduct oadmap. The app oximately 30-pe so IIoT team will joi La t o ix, addi g domai expe tise i SaaS-based asset t acki g, custome suppo t a d applicatio -laye softwa e developme t. Ove time, Ne o custome s a d pa t e s will gai access to La t o ix’s b oade IIoT po tfolio, i cludi g oppo tu ities to i teg ate Ne o Global T acki g with La t o ix ha dwa e, co ectivity a d edge compute p oducts.
“La t o ix is the ight home fo this busi ess,” said Sumit Kuma , P eside t a d CEO of Vecima Netwo ks. “This t a sactio gives ou IIoT team, custome s, a d cha el pa t e s access to a la ge global platfo m with a mo e comp ehe sive, e d-to-e d solutio . It b i gs togethe i dust y-leadi g ha dwa e, co ectivity, a d applicatio softwa e u de o e oof. With additio al esou ces to suppo t i ovatio a d g owth, we’ e co fide t ou custome s will be efit f om a eve st o ge value p opositio , while also allowi g Vecima to sha pe its focus o its co e b oadba d a d video ma kets.”
©2026 La t o ix, I c. All ights ese ved. La t o ix is a egiste ed t adema k. Othe t adema ks a d t ade ames a e those of thei espective ow e s.
“Safe Ha bo ” Stateme t u de the P ivate Secu ities Litigatio Refo m Act of 1995: This ews elease co tai s fo wa d-looki g stateme ts withi the mea i g of fede al secu ities laws, i cludi g, without limitatio , stateme ts co ce i g the completio a d closi g of the t a sactio ; stateme ts co ce i g the a ticipated be efits of the acquisitio of Vecima Netwo ks’ IIoT busi ess, i cludi g expected co t ibutio s to ecu i g eve ue, g owth i La t o ix’s i dust ial IoT custome base, a d its ability to expa d its ha dwa e-plus-softwa e platfo m ac oss fleet, mu icipal a d i dust ial asset-t acki g ma kets. These fo wa d-looki g stateme ts a e based o ou cu e t expectatio s a d a e subject to substa tial isks a d u ce tai ties that could cause ou actual esults, futu e busi ess, fi a cial co ditio , o pe fo ma ce to diffe mate ially f om ou histo ical esults o those exp essed o implied i a y fo wa d-looki g stateme t co tai ed i this ews elease. The pote tial isks a d u ce tai ties i clude, but a e ot limited to, such facto s as ou ability to successfully i teg ate the IIoT busi ess; the effects of egative o wo se i g egio al a d wo ldwide eco omic co ditio s o ma ket i stability o ou busi ess, i cludi g effects o pu chasi g decisio s by ou custome s; ou ability to mitigate a y dis uptio i ou a d ou supplie s’ a d ve do s’ supply chai s due to cha ges i U.S. o fo eig gove me t t ade policies, i cludi g ece tly i c eased o futu e ta iffs, a pa demic o othe outb eaks, wa s a d ece t co flicts i Eu ope, Asia a d the Middle East, o othe facto s; futu e espo ses to a d effects of public health c ises; cybe secu ity isks; cha ges i applicable U.S. a d fo eig gove me t laws a d egulatio s; ou ability to successfully impleme t ou acquisitio s st ategy o i teg ate acqui ed compa ies; difficulties a d costs of p otecti g pate ts a d othe p op ieta y ights; the level of ou i debted ess, ou ability to se vice ou i debted ess a d the est ictio s i ou debt ag eeme ts; a d a y additio al facto s i cluded i ou A ual Repo t o Fo m 10-K fo the fiscal yea e ded Ju e 30, 2025, filed with the Secu ities a d Excha ge Commissio (the “SEC”) o Aug. 29, 2025, i cludi g i the sectio e titled “Risk Facto s” i Item 1A of Pa t I of that epo t; i ou Qua te ly Repo t o Fo m 10-Q fo the fiscal qua te e ded Ma ch 31, 2026, filed with the SEC o May 7, 2026, i cludi g i the sectio e titled “Risk Facto s” i Item 1A of Pa t II of such epo t as well as i ou othe public fili gs with the SEC. Additio al isk facto s may be ide tified f om time to time i ou futu e fili gs. I additio , actual esults may diffe as a esult of additio al isks a d u ce tai ties about which we a e cu e tly u awa e o which we do ot cu e tly view as mate ial to ou busi ess. Fo these easo s, i vesto s a e cautio ed ot to place u due elia ce o a y fo wa d-looki g stateme ts. The fo wa d-looki g stateme ts we make speak o ly as of the date o which they a e made. We exp essly disclaim a y i te t o obligatio to update a y fo wa d-looki g stateme ts afte the date he eof to co fo m such stateme ts to actual esults o to cha ges i ou opi io s o expectatio s, except as equi ed by applicable law o the ules of the Nasdaq Stock Ma ket LLC. If we do update o co ect a y fo wa d-looki g stateme ts, i vesto s should ot co clude that we will make additio al updates o co ectio s.
