Friday, November 4, 2016

Novatel Wireless Becomes Inseego, After Selling Off MiFi

San Diego-based wireless equipment maker Novatel Wireless announed late Thursday, that it is reorganizing its business, and will rename itself Inseego Corp.. The name change comes as part of an agreement to sell of its MiFi mobile broadband business to T.C.L. Industries Holdings (H.K.) Limited. Novatel Wireless reached a deal in September to sell of its MiFi business for $50M to TCL, which shifts the company from a provider of wireless hardware to instead a provider of Internet-of-Things and telematics services. Novatel will change its stock symbol from its current MIFI symbol to INSG on November 9th.

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