Inseego completes sale of telematics business for $52M cash; repays $6M loan

INSEEGO CORP.

Sold global telematics business (UK, EU, Australia, NZ) to Ctrack Holdings for $52 million all-cash.
Proceeds used to repay in full the $6 million balance on the South Ocean Funding loan agreement.
Estimated net cash proceeds after transaction costs and taxes are $43.5 million.
Pro forma after-tax gain on disposition is $17.7 million; telematics results removed from continuing ops.
Company now solely focused on core 5G domestic mobile and fixed wireless solutions.

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