It talks ethernet to the PC, but instead of direct outputs like the CSMIO range, it has a set of 5 "parallel port" style output connectors. In fact, they are standard PC board headers and each needs to be connected (simply) to a terminal strip (or cheap BOB as the connectors carry the same signals as a parallel port) to give access to the connections or (much better) to a custom BOB which provides opto-isolation plus the potential for 24V signalling. There is a fancy BOB specifically designed to go with it that provides opto-isolated access to all its IO ports. Not sure if it can also handle differential signalling for connection to stepper drivers. The combination isn't cheap - the BOB costs as much as the controller board, I think, but the combination plus UCCNC is competitive with the IP-M if you also add in Mach3.
(edit - Gerry was quicker off the mark! UB1 - that's the board I was thinking of)