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Airgain® Acquires NimbeLink™, a Leader in Edge-based Cellular Connectivity Solutions for the Industrial Internet of Things
Acquisition Significantly Expands Airgain’s Growth in its Enterprise Market with Cellular-based Edge Devices and Platform Software for Industrial IoT and M2M
About this update from Airgain, Inc.
[{"type":"text","content":"\n\nAcquisition Significantly Expands Airgain’s Growth in its Enterprise Market with Cellular-based Edge Devices and Platform Software for Industrial IoT and M2M Applications\n\n\nConference Call Scheduled for Today, January 7 at 5:00 p.m. ET\n\n\n \n\n SAN DIEGO--(BUSINESS WIRE)--\nAirgain, Inc. (NASDAQ: AIRG), a leading provider of advanced antenna technologies used to enable high performance wireless networking across a broad range of devices and markets, including consumer, enterprise, and automotive, has acquired privately-held NimbeLink Corp., a leader in cellular industrial Internet of Things solutions and services. The addition of NimbeLink’s embedded modem products and asset tracking solutions is key to Airgain’s ongoing strategy to expand its penetration of the multi-billion-dollar Industrial IoT and M2M (machine-to-machine) markets.\n\nNimbeLink Overview\n\nHeadquartered in Plymouth, MN, and founded in 2013, NimbeLink is a trusted partner for edge-based cellular connectivity Industrial IoT solutions. NimbeLink’s certified Skywire® cellular modems enable original equipment manufacturers (OEMs) to dramatically reduce their cellular development time. NimbeLink develops and markets complete edge-to-enterprise asset tracking solutions that are precisely configured to customers’ use cases and applications such as location tracking, inventory management, and resource optimization. Established in 2013, NimbeLink has sold more than 400,000 units over the last two years and its patented products have been deployed for thousands of end customers through multiple partner relationships. Based on preliminary, unaudited results, NimbeLink expects to report $12.5 million in revenue and $0.1 million in adjusted EBITDA for the fiscal year ended December 31, 2020 (see note below regarding “Use of Non-GAAP Financial Measures,” for further discussion of this non-GAAP measure).\n\nAcquisition Expectations and Rationale\n\n\nAccelerates Airgain’s Enterprise Market Growth\n\n\nExtends AirgainConnect® Platform Breadth and Opportunity\n\n\nExtends NimbeLink Salesforce Reach Internationally\n\n\nAllows NimbeLink to Address Larger Design Win Opportunities\n\n\nOpportunities to Improve NimbeLink Product Performance through Airgain Antenna System Enhancements\n\n\nIncreases Revenue Scale and Diversification\n\n\nThrough the combined product offeri...