Ctrack Holdings (Convergence Partners) Acquires Inseego's Global Telematics Business
December 2, 2024
Inseego Corp. completed the sale of its global telematics business to Ctrack Holdings, a portfolio company of Convergence Partners, for $52 million in cash. The divestiture lets Inseego focus on its core 5G business and repay debt, while Ctrack expands its telematics capabilities and geographic footprint across the UK, EU, Australia and New Zealand.
- Buyers
- Ctrack Holdings, Convergence Partners
- Targets
- Inseego global telematics business
- Sellers
- Inseego Corp.
- Industry
- Telecommunications
- Location
- California, United States
- Transaction Type
- Divestiture
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