M&A Deal Summary

MICT Acquires Novatel Wireless - Telematics business

On February 18, 2016, MICT acquired communications company Novatel Wireless - Telematics business from Inseego for 24M USD

Acquisition Highlights
  • This is MICT’s 1st transaction in the Communications sector.
  • This is MICT’s largest (disclosed) transaction.
  • This is MICT’s 1st transaction in the United States.

M&A Deal Summary
Date 2016-02-18
Target Novatel Wireless - Telematics business
Sector Communications
Buyer(s) MICT
Sellers(s) Inseego
Deal Type Divestiture
Deal Value 24M USD

Target

Novatel Wireless - Telematics business

United States
Novatel Wireless - Telematics business is a provider of communication services.

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Buyer(S) 1

Buyer

MICT

Montvale, New Jersey, United States

website

Category Company
Founded 2002
Sector Technology Hardware
Employees167
Revenue 1M USD (2020)
DESCRIPTION

MICT is a designer, developer, manufacturer, and marketer of rugged mobile computing devices that provide fleet operators and field workforces with computing solutions in challenging work environments. MICT was founded in 2002 and is based in Montvale, New Jersey.

DEAL STATS #
Overall 1 of 1
Sector (Communications) 1 of 1
Type (Divestiture) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-02 Enertec Systems

Karmiel, Israel

Enertec Systems Ltd. is a manufacturer of specialized electronic systems for the military market. Enertec Systems was founded in 2001 and is based in Karmiel, Israel.

Sell $5M

Seller(S) 1

SELLER

Inseego

Alpharetta, Georgia, United States

website

Category Company
Founded 1996
Sector Technology Hardware
Employees998
Revenue 314M USD (2020)
DESCRIPTION

Inseego is a provider of wireless broadband access solutions for the worldwide mobile communications market. Inseego was founded in 1996 and is based in San Diego, California.

DEAL STATS #
Overall 1 of 2
Sector (Communications) 1 of 1
Type (Divestiture) 1 of 2
Country (United States) 1 of 2
Year (2016) 1 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-05 DigiCore Holdings

Pretoria, South Africa

DigiCore Holdings specializes in vehicle tracking, fleet management and insurance telematics for a global client base in 54 countries. DigiCore's Ctrack brand is recognized as a world-leading provider of advanced machine-to-machine communication and telematics solutions that adds value to this global base of customers with mobile assets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-11 Novatel Wireless - IP and Cellular Module Products

United States

Novatel Wireless - IP and Cellular Module Products is a provider of communication equipment products.

Sell $15M
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