Inseego Completes Sale of Telematics Business For $52 Million in Cash
Inseego Completes Sale of Telematics Business For $52 Million in Cash
SAN DIEGO, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Inseego Corp. (Nasdaq: INSG) (the "Company"), a technology leader in 5G mobile and fixed wireless solutions for mobile network operators, Fortune 500 enterprises, and SMBs, today announced the successful completion of the previously announced sale of its global telematics business for $52 million dollars (USD) in an all-cash transaction to Ctrack Holdings, a portfolio company of Convergence Partners. The transaction involves the divestiture of Inseego's telematics business that operates across the United Kingdom, the European Union, Australia and New Zealand.
聖地亞哥，2024年12月2日（環球新聞）-- inseego公司（納斯達克：INSG）（"公司"）是一家在5g移動和固定無線解決方案方面的科技領導者，服務於移動網絡運營商、財富500強企業和中小企業，今天宣佈成功完成了之前宣佈的以5200萬美元的全現金交易，將其全球車聯網業務出售給Ctrack Holdings，該公司是Convergence Partners的投資組合公司。此次交易涉及出售inseego在英國、歐盟、澳洲和新西蘭運營的車聯網業務。
"We are pleased to announce that the sale of our telematics business has been finalized, which will allow us to focus on our core 5G business," said Philip Brace, Executive Chairman of Inseego. "We would like to thank the team members of the telematics business for their hard work and years of service to Inseego, and we wish them the best."
"我們很高興地宣佈我們的車聯網業務的出售已經完成，這將使我們能夠專注於核心的5g業務，" inseego的執行主席Philip Brace說。"我們想感謝車聯網業務的團隊成員們爲inseego付出的辛勤努力和多年服務，祝他們一切順利。"
The sale of the telematics business served two important purposes of allowing the Company to focus on driving growth in its core 5G domestic business and providing cash for the recapitalization and debt reduction that was executed. As part of that initiative, the Company used a portion of the proceeds from the sale of the telematics business to repay in full the remaining $6 million balance due under Loan and Security Agreement, dated June 28, 2024, among the Company, South Ocean Funding, LLC, certain participant lenders and certain subsidiaries of the Company.
出售車聯網業務有兩個重要目的：使公司能夠集中精力推動核心5g業務的增長，併爲執行的資本重組和債務減少提供資金。作爲這一倡議的一部分，公司使用了來自車聯網業務銷售的一部分收益，完全償還了2024年6月28日公司、南洋資金公司、某些參與貸款人和公司的某些子公司之間的貸款和安防協議下的剩餘600萬美元餘額。
About Inseego Corp.
Inseego Corp. (Nasdaq: INSG) 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 . #Putting5GtoWork
關於Inseego Corp.
inseego公司（納斯達克：INSG）是5G企業雲WAN解決方案的行業領導者，擁有數百萬的終端客戶和成千上萬的企業及中小企業客戶，基於其4G、5G和雲平台。inseego的5G邊緣雲結合了行業最佳的5G科技、豐富的雲網絡功能和智能邊緣應用。inseego通過連接分佈式地點和工作團隊，確保企業數據的安全，並通過智能操作可視化改善業務成果，推動新的商業體驗——這一切都在5G網絡之上。有關inseego的更多信息，請訪問。#把5G應用於工作
Media Relations Contact:
Inseego Corp.
Jodi Ellis
pr@inseego.com
Emily Whalen
英磁高公司。
Jodi Ellis
pr@inseego.com
