Lantronix Wins 2024 IoT Evolution Asset Tracking Award for FOX3 Telematic Gateway
June 13 2024 - 7:00AM
Lantronix Inc. (NASDAQ: LTRX), a global leader in compute and
connectivity IoT solutions, today announced that it has won a 2024
IoT Evolution Asset Tracking Award from IoT Evolution magazine.
Lantronix won for its FOX3 telematic gateways based on its Quantum
Aviation case study. This award honors excellence in innovation
utilizing IoT technologies to automate the asset tracking functions
to increase efficiencies, reduce theft or optimize utilization of
the asset.
A long-standing customer of Lantronix telematic products,
Quantum Aviation Solutions of Frankfurt, Germany, incorporated the
Lantronix FOX3 series to gather real-time data for its fleet
management software, which is installed at airports around the
world. With the FOX3 gateway, critical signals are collected and
transferred to the Quantum software solution that provides
immediate visibility as well as historic analysis that supports
increased efficiency and reduced cost.
Ursula Hess, CEO of Quantum Aviation, said, “Utilizing
Lantronix’s FOX3 series telematic gateways, we are able to feed
reliable, real-time data to our cloud-based software solution,
which gives our aviation customers access to critical information
for real-time visibility and actions as well as long-term
analytics.”
According to Berg Insight, the global shipments of aftermarket
telematics devices will grow at a CAGR of 10.5 percent in the next
five years, reaching 77.6 million units in 2027 for a total market
value estimated to reach $3.7 billion by 2027.
“We are delighted to be honored for our contributions in IoT
asset tracking management,” said Brian Jaroszewski, director of
Product Line Management for Lantronix. “Our successes with Quantum
Aviation and other customers provide reliable proof of our ability
to deliver innovation telematics management solutions that enable
our customers to drive growth and success.”
Lantronix Quantum Aviation Case Study
Highlights
Quantum Aviation utilizes Lantronix’s FOX3 telematic gateways
for:
- Fleet management transparency and digitization
- Analytics for improved efficiency and cost reduction
- Remote management via Web or Desktop
- Advanced encryption, including AES, SSL/TLS
To learn more about Lantronix telematic devices and the benefits
they bring to the IoT asset management segment as well as read
other use cases, visit https://www.lantronix.com/.
About Lantronix
Lantronix Inc. is a global leader of compute and connectivity
IoT solutions that target high-growth industries, including Smart
Cities, Automotive and Enterprise. Lantronix’s products and
services empower companies to achieve success in the growing IoT
markets by delivering customizable solutions that address each
layer of the IoT Stack. Lantronix’s leading-edge solutions include
Intelligent Substations infrastructure, Infotainment systems and
Video Surveillance, supplemented with advanced Out-of-Band
Management (OOB) for Cloud and Edge Computing.
For more information, visit the Lantronix website.
“Safe Harbor” Statement under the Private Securities Litigation
Reform Act of 1995: This media alert contains forward-looking
statements within the meaning of federal securities laws, including
without limitation statements related to its FOX3 telematic
gateways, including statements about their reliability, security
and flexibility. These forward-looking statements are based on our
current expectations and are subject to substantial risks and
uncertainties that could cause our actual results, future business,
financial condition, or performance to differ materially from our
historical results or those expressed or implied in any
forward-looking statement contained in this news release. The
potential risks and uncertainties include, but are not limited to,
such factors as the effects of negative or worsening regional and
worldwide economic conditions or market instability on our
business, including effects on purchasing decisions by our
customers; our ability to mitigate any disruption in our and our
suppliers’ and vendors’ supply chains due to the COVID-19 pandemic
or other outbreaks, wars and recent tensions in Europe, Asia and
the Middle East, or other factors; future responses to and effects
of public health crises; cybersecurity risks; changes in applicable
U.S. and foreign government laws, regulations, and tariffs; our
ability to successfully implement our acquisitions strategy or
integrate acquired companies; difficulties and costs of protecting
patents and other proprietary rights; the level of our
indebtedness, our ability to service our indebtedness and the
restrictions in our debt agreements; and any additional factors
included in our Annual Report on Form 10-K for the fiscal year
ended June 30, 2023, filed with the Securities and Exchange
Commission (the “SEC”) on Sept. 12, 2023, including in the section
entitled “Risk Factors” in Item 1A of Part I of such report; in our
Quarterly Reports on Form 10-Q for the fiscal quarter ended Dec.
31, 2023, filed with the SEC on Feb. 8, 2024, and for the fiscal
quarter ended March 31, 2024, filed with the SEC on May 2, 2024,
including in the section entitled “Risk Factors” in Item 1A of Part
II of such report; as well as in our other public filings with the
SEC. Additional risk factors may be identified from time to time in
our future filings. The forward-looking statements included in this
release speak only as of the date hereof, and we do not undertake
any obligation to update these forward-looking statements to
reflect subsequent events or circumstances.
© 2024 Lantronix, Inc. All rights reserved. Lantronix is a
registered trademark. Other trademarks and trade names are those of
their respective owners.
Lantronix Media Contact:Gail
Kathryn MillerCorporate Marketing &Communications
Managermedia@lantronix.com949-212-0960
Lantronix Analyst and Investor
Contact:Jeremy WhitakerChief Financial
Officerinvestors@lantronix.com 949-450-7241
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