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Inseego Corp. Sells Telematics Business for $52 Million

Dec 02, 2024•over 1 year ago

Contract Type

contract

San DiegoInformation TechnologyHardwareSoftwareMobileEnterprise SoftwareCloud InfrastructureCloud ComputingWirelessTelecommunications

Description

Inseego Corp. has successfully completed the sale of its global telematics business for $52 million in an all-cash transaction to Ctrack Holdings. The transaction involves the divestiture of Inseego’s telematics business across the United Kingdom, the European Union, Australia, and New Zealand, allowing the company to focus on its core 5G business and providing cash for recapitalization and debt reduction.

Company Information

Company

Inseego

Location

San Diego, California, United States

About

Inseego Corp. is the industry leader in 5G Enterprise cloud WAN solutions, with millions of end customers and thousands of enterprise and SMB customers on its 4G, 5G, and cloud platforms. Inseego's 5G Edge Cloud combines the industry's best 5G technology, rich cloud networking features, and intelligent edge applications. Inseego powers new business experiences by connecting distributed sites and workforces, securing enterprise data, and improving business outcomes with intelligent operational visibility---all over a 5G network. For more information on Inseego, visit www.inseego.com #Putting5GtoWork ©2023. Inseego Corp. All rights reserved. Inseego and MiFi are registered trademarks of Inseego Corp.

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