Lantronix Announces Multi-Year Agreement With Tier-1 US Mobile Network Operator

Lantronix Inc. (NASDAQ:LTRX) is one of the best AI stocks to buy according to hedge funds. On June 26, Lantronix announced a multi-year agreement with a Tier-1 US mobile network operator. The agreement is set to digitally transform the management of over 50,000 backup power systems located at wireless cell sites across the US.

The deployment will utilize Lantronix’s Edge gateways, specifically the FOX Series, and its cloud-based Percepxion platform. The solutions will enable real-time monitoring of generator health, which includes critical metrics like fuel levels, battery status, oil pressure, and coolant temperature. This aims to enhance network reliability, reduce service disruptions, and cut operational costs by moving away from traditional and inefficient manual inspections.

Lantronix Announces Multi-Year Agreement With Tier-1 US Mobile Network Operator

A technician working with a network switch in a remote environment.

The company was selected from a competitive field of more than 20 competitors, which shows the strength and scalability of its solutions for large and distributed asset networks. Volume shipments for the contract have already commenced and indicate immediate revenue generation for Lantronix.

Lantronix Inc. (NASDAQ:LTRX) develops, markets, and sells industrial and enterprise IoT products and services. The company specializes in Edge AI.

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Disclosure: None. This article is originally published at Insider Monkey.