SAN DIEGO — Nov. 8, 2010 — Novatel Wireless, Inc. (NASDAQ: NVTL), a leading provider of wireless broadband solutions, has entered into a definitive agreement to acquire Enfora, Inc., a privately-held, Texas-based provider of intelligent asset-management solutions utilizing wireless technology and machine-to-machine (M2M) communications, for approximately $64.5 million in cash at closing, subject to certain working capital adjustments.
Possible additional consideration of up to $6 million is contingent on certain performance targets being met.
Key benefits of the acquisition include:
- Diversifying Novatel Wireless’ customer base and product lines into adjacent markets.
- Advancing the company’s strategy of providing intelligent devices to all end markets – enterprise, consumer, and vertical applications. Enfora has developed differentiated solutions for key market segments, including transportation, industrial automation, security, and healthcare.
- Creating a strong growth profile by bringing together long-term customer relationships with wireless carriers, cable operators, distributors, retailers, MVNOs, leading OEMs in both mobile computing and vertical markets, enterprises, and application service providers.
- Leveraging the research and development, product portfolios, and geographic reach of the combined company.
Website: novatelwireless.com |
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