Monday, February 6, 2017

Inseego Deal Sees Reset Due To Presidential Adminstration Change

San Diego-based Inseego, the company preivously known as Novatel Wireless, said on Friday that the company, along with buyers T.C.L. Industries Holdings (H.K.) Limited and Jade Ocean Global Limited, have resubmitted the Joint Voluntary Notice (JVN) it had filed with the Committee on Foreign Investment in the United States (CFIUS), due to the recent change in Presidential administrations. The companies said they had been attempting to finalize the terms of a National Security Agreement with the CFIUS, but due to the change in Presidential adminsitrations, it has had to withdraw and re-file that agreement. Inseego said it still expects to close on the sale in the first quarter of 2017. Inseego renamed itself in November, after announcing the deal to sell off its Mi-Fi business to TCL.