Inseego completes Nokia fixed wireless acquisition
- Inseego (NASDAQ:INSG) completed the acquisition of Nokia’s fixed wireless access business to expand its broadband operations and carrier reach.
- The company expects the acquisition to approximately double revenue, while Nokia invested $10 million in cash.
- Nokia received approximately 11% ownership in Inseego and will provide additional support for technology integration and customer opportunities.
Inseego (NASDAQ:INSG) completed its acquisition of Nokia’s (NYSE:NOK) fixed wireless access business, expanding its wireless broadband operations across Europe, the Middle East, Asia, Oceania and the Americas.
The transaction is expected by Inseego to approximately double revenue, while Nokia completed a $10 million cash investment and received approximately 1.9 million common shares representing about 11% ownership.
Under the agreement, Nokia also received warrants to purchase up to approximately 0.8 million Inseego shares at an exercise price of $4.26 per share, while Nokia will provide an additional $10 million cash payment by October 15, 2026, for engineering work supporting technology interoperability.
The acquisition expands Inseego’s fixed wireless access business and adds Nokia’s carrier relationships and market presence across multiple international regions.
Nokia will provide transition support, refer new fixed wireless access opportunities to Inseego and assist engineering efforts involving Inseego’s device operating system, cloud platform and selected Nokia technology ecosystems.
