Novatel Wireless Set to Join the Russell 2000(R) Index

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Novatel Wireless (MIFI) to Acquire DigiCore Holdings in $87M Deal

June 18, 2015 5:18 PM EDT

Novatel Wireless (NASDAQ: MIFI) announced it has signed a definitive agreement to acquire 100% of the issued share capital of DigiCore Holdings Limited, a leading provider of advanced machine-to-machine (M2M) communication and telematics solutions, for 4.40 South African Rand per share, for an aggregate purchase price of approximately USD $87 million based on current exchange rates. Irrevocable undertakings have been signed by holders of 58% of DigiCore's outstanding shares to vote in favor of the transaction.

Novatel Wireless has worked closely with DigiCore since 2013 to jointly commercialize a comprehensive end-to-end global service Software-as-a-Service (SaaS) platform. The acquisition... More