On May 25, 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 were informed by CFIUS that the 30-day review period has been extended into an investigation period which may last up to 45 days, the companies said.
Inseego believes the CFIUS process will conclude on or prior to July 10, 2017.
Inseego Corp. (Nasdaq: INSG) is a 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 633,000 global subscribers, including 189,000 fleet management subscribers. The company is headquartered in San Diego, California.