SAN DIEGO–(BUSINESS WIRE)–$INSG–On March 30, 2017, in connection with Inseego’s proposed sale of Novatel
Wireless, Inc. to Jade Ocean Global Limited, a subsidiary of T.C.L.
Industries Holdings (H.K.) Limited, the Parties met with CFIUS to
continue finalizing the terms of a definitive mitigation agreement.
Inseego believes the CFIUS process will conclude on or prior to April
About Inseego Corp.
Inseego Corp. (Nasdaq: INSG) is a leading global provider of
software-as-a-service (SaaS) and solutions for the Internet of Things
(IoT). The Company sells its telematics solutions under the Ctrack
brand, including its fleet management, asset tracking and monitoring,
stolen vehicle recovery, and usage-based insurance platforms. Inseego
Corp. also sells business connectivity solutions and device management
services through Novatel Wireless, Inc. and Feeney Wireless (FW).
Inseego Corp. has over 30 years of experience providing customers with
secure and insightful solutions and analytics, with approximately
620,000 global subscribers, including 187,000 fleet management
subscribers. The Company is headquartered in San Diego, California.
www.inseego.com Twitter @inseego
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may constitute forward-looking
statements. These forward-looking statements relate to a variety of
matters, including, without limitation, statements regarding the timing
and likelihood of the consummation of the proposed Sale and conditions
precedent to consummating the proposed Sale. These forward-looking
statements are made on the basis of the current beliefs, expectations
and assumptions of the management of the Company and are subject to
significant risks and uncertainty. Investors are cautioned not to place
undue reliance on any such forward-looking statements. All such
forward-looking statements speak only as of the date they are made, and
the Company undertakes no obligation to update or revise these
statements, whether as a result of new information, future events or
otherwise, except as may be required by law. These forward-looking
statements involve many risks and uncertainties that may cause actual
results to differ materially from what may be expressed or implied in
these forward-looking statements. For example, there can be no assurance
that a definitive mitigation agreement with CFIUS will be executed. The
consummation of the proposed Sale is subject to a number of closing
conditions, including approval by CFIUS, and the failure to satisfy any
one of these conditions could result in the transaction not closing. For
a further discussion of risks and uncertainties that could cause actual
results to differ from those expressed in these forward-looking
statements, as well as risks relating to the business of Inseego Corp.
in general, see the risk disclosures in our Annual Report on Form 10-K
for the year ended December 31, 2016, and in other subsequent filings
made with the SEC by Inseego Corp. (available at www.sec.gov).