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Novatel Wireless to buy DigiCore Holdings for $87 million

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Staff writer ▼ | June 20, 2015
Novatel Wireless has signed a definitive agreement to acquire 100% of the issued share capital of DigiCore Holdings Limited for 4.40 South African Rand per share, for an aggregate purchase price of approximately $87 million.
Novatel Wireless
Acquisition   Novatel Wireless has worked closely with DigiCore since 2013
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 will unify Novatel Wireless' hardware with Ctrack, a global telematics SaaS offering for the Fleet Management, User-Based Insurance, and Asset Tracking and Monitoring markets.

This, combined with the professional services offered by Novatel Wireless' recently acquired Feeney Wireless (FW), delivers the market's first full-stack solution for the global transportation industry.