IRVINE, Calif., May 21, 2020 (GLOBE NEWSWIRE) -- Today’s Work-From-Home environment is now easier and more secure due to video meeting platforms powered by Lantronix Inc. (NASDAQ: LTRX), a global provider of Industrial Internet of Things (IoT) and Intelligent Edge Solutions encompassing edge computing, secure data collection and transmission and SaaS management platform. Lantronix’s IoT production-ready products are helping video conferencing companies deliver easier-to-use, more secure remote meeting solutions from desk-to-desk, home-to-home and office-to-office.
“With worldwide work-from-home mandates due to COVID-19, there are now hundreds of millions of people who rely on video conferencing for meetings and remote collaboration,” said Paul Pickle, CEO of Lantronix. “At Lantronix, we are seeing unprecedented demand for our extensive engineering services and product portfolio of Intelligent Edge Solutions that empower our customers to quickly bring high-quality, secure video conferencing solutions to market.”
Zoom’s daily active users increased from 10 million in January to more than 300 million as of April 23, 2020, compared to 1.99 million for all of 2019. Microsoft reported that its Teams collaboration platform has seen a 1,000 percent increase in usage. As of April 2020, Teams has more than 75 million daily active users. In a single day, it has had more than 200 million Teams meeting participants, generating 4.1 billion meeting minutes.
Cisco’s WebEx reported that it hosted 14 billion meeting minutes in March, which is double that of January. It is now hosting more than 4 million meetings per day globally. Google reported that daily usage of its Hangouts enterprise videoconferencing tool is now 25 times higher than it was in January. As well, Google Meet’s day-over-day growth has exceeded 60 percent over the past few weeks.
“As companies gradually reopen, we expect the demand for video conferencing to remain strong as business leaders stay mindful of worker safety, realize gains in worker efficiency and realize a reduction in operational expenses, all of which deliver meaningful contributions to a company’s bottom line,” Pickle added.
According to a March 2020 report from Gartner, about 74 percent of CFOs surveyed expect some of their employees who were forced to work from home because of COVID-19 to permanently work from home after the pandemic subsides. In fact, Twitter announced that if employees are in a role with circumstances that enable them to work from home, they can continue to do so indefinitely. Google and Facebook both announced that their employees will have the option to work from home through 2020. In addition, an April 2020 Gallup survey reported that 59 percent of American employees would prefer to continue working from home after the pandemic. Sixty-two percent of American employees surveyed said that they are currently working from home, a number that has doubled since mid-March.
With three decades of experience, Lantronix’s solutions dramatically simplify the creation, development, deployment and management of IoT projects while providing quality, reliability and security across hardware, software and solutions. Intelligent Edge Solutions products and services that help bring video conferencing solutions to market include:
- Open-Q™ 800 series SOMs that deliver fast, multi-core processors, game quality video graphics and high-level camera integration with ultra HD video capture. The Open-Q 800 series SOMs support on-device AI processing, delivering smart conferencing experiences with vault-like security features enabling secure end-to-end communications.
- Open-Q™ 800 series Development Kits that enable OEMs to rapidly build systems that allow users to collaborate more effectively using multiple cameras, displays and microphones with cinema-grade video and audio quality.
“Our Lantronix portfolio of solutions is well poised to meet the accelerated demand for quality components and services that help our valued partners quickly develop and bring new products to market,” said Jonathan Shipman, VP of Strategy at Lantronix. “The acquisition of Intrinsyc, now known as Intelligent Edge Solutions by Lantronix, is part of our ongoing corporate strategy to acquire companies with the brightest teams and best products to bring new, advanced technology solutions to businesses and users worldwide.”
About Lantronix
Lantronix, Inc. is a global provider of engineering services, hardware and software solutions for Edge Computing, the Internet of Things (IoT) and Out-of-Band Management (OOBM). Lantronix enables its customers to provide reliable and secure IoT Intelligent Edge and OOBM solutions while accelerating time to market. Lantronix’s products and services dramatically simplify the creation, development, deployment, and management of IoT projects while providing quality, reliability and security across hardware, software, and solutions.
With three decades of proven experience in creating robust IoT technologies and OOBM solutions, Lantronix is an innovator in enabling its customers to build new business models, leverage greater efficiencies and realize the possibilities of the Internet of Things. Lantronix’s solutions are deployed inside millions of machines at data centers, offices, and remote sites serving a wide range of industries, including energy, agriculture, medical, security, manufacturing, distribution, transportation, retail, financial, environmental and government.
Lantronix is headquartered in Irvine, California. For more information, visit www.lantronix.com.
Learn more at the Lantronix blog, www.lantronix.com/blog, featuring industry discussion and updates. To follow Lantronix on Twitter, please visit www.twitter.com/Lantronix. View our video library on YouTube at www.youtube.com/user/LantronixInc or connect with us on LinkedIn at www.linkedin.com/company/lantronix.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Any statements set forth in this news release that are not entirely historical and factual in nature, including, without limitation, statements related to our solutions and technologies, our acquisitions, our corporate strategy, our new SmartEdge Partner Program and their potential effects on future business are forward-looking statements. 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; the impact of the COVID-19 outbreak on our employees, supply and distribution chains, and the global economy; 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, 2019, filed with the Securities and Exchange Commission (the “SEC”) on September 11, 2019, including in the section entitled “Risk Factors” in Item 1A of Part I 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.
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