Wednesday, January 11, 2017

Novatel Wireless Gets Nod From Investors On Sale

San Diego-based Inseego Corp.--most recently, Novatel Wireless--said late Tuesday that its stockholders have approved the sale of its MiFi mobile broadband business to T.C.L. Industries Holdings (H.K.) Limited and Jade Ocean Global Limited.The deal is worth $50M in cash. Novatel had announced the sale of the business in September, and said it would rename the rest of the company Inseego Corp. Inseego will focus only on Internet-of-things and telematics services, rather than hardware.