Communications systems to sell its transition networks and net2edge businesses for $25.0 million paid at closing plus up to an additional $7.0 million in earnout payments

Minnetonka, minn.--(business wire)--communications systems, inc. (nasdaq: jcs) (“csi” or the “company”), an iot intelligent edge products and services company, today announced that it entered into a definitive securities purchase agreement (“purchase agreement”) with lantronix, inc. (nasdaq: ltrx) (“lantronix”), to sell the company's transition networks and net2edge businesses to lantronix for a base price of $25.0 million to be paid at closing, subject to a working capital adjustment following
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