Inseego Announces Sale Of Telematics Business To Convergence Partners For $52M In Cash; Proceeds To Delever And Focus On Growth In 5G Mobility And Fixed Wireless Solutions
Portfolio Pulse from Benzinga Newsdesk
Inseego has announced the sale of its telematics business to Convergence Partners for $52 million in cash. The proceeds will be used to reduce debt and focus on growth in 5G mobility and fixed wireless solutions.
September 16, 2024 | 8:06 pm
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Inseego is selling its telematics business for $52 million to Convergence Partners. The company plans to use the proceeds to reduce debt and concentrate on expanding its 5G mobility and fixed wireless solutions.
The sale of the telematics business provides Inseego with $52 million in cash, which will be used to deleverage the company. This strategic move allows Inseego to focus on its core growth areas in 5G mobility and fixed wireless solutions, potentially leading to improved financial health and market position.
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