Lantronix Enters Into a Cooperation Agreement with Chain of Lakes Investment Fund
According to the agreement, James (Jim) C. Auker will become a part of the Lantronix Board of Directors and will run for the elections at the 2025 Annual Meeting of Stockholders. The investor group has also agreed to customary standstill and voting commitments.
A computer screen displaying a neighborhood network with connectivity for businesses and public services.
'Lantronix is committed to maximizing value for all Lantronix shareholders. We appreciate the constructive discussions with Chain of Lakes and are pleased to welcome Jim Auker to our Board. His perspective and experience will be valuable as we continue to execute our strategic priorities,' said Saleel Awsare, CEO and President of Lantronix.'
Following this latest development, Lantronix also announced a multi-year deal with a Tier-1 U.S. mobile network operator. Lantronix will digitally transform the management of over 50,000 backup power systems across wireless cell sites in the U.S. The company will offer its Edge gateways and cloud-based software to enable real-time monitoring, improving network reliability and minimizing operational costs.
Lantronix, Inc. (NASDAQ:LTRX) offers compute and connectivity IoT solutions to high-growth industries. It provides advanced robotics and AI engineering services to its clients.
While we acknowledge the potential of LTRX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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