Novatel Wireless agreed to acquire DigiCore, a provider of advanced machine-to-machine (M2M) communication and telematics solutions based in South Africa, for approximately US$87 million.
The companies have been working together to commercialize a comprehensive end-to-end global service Software-as-a-Service (SaaS) platform.
This combines Novatel Wireless’ hardware with DigiCore’s Ctrack, a global telematics SaaS offering for the fleet management, user-based insurance, and asset tracking and monitoring markets.
“This combination is the result of a long-standing partnership between the two companies,” said Alex Mashinsky, CEO of Novatel Wireless. “As a result of this relationship, we’ve already gone through an arduous process of integrating Novatel Wireless hardware into DigiCore’s SaaS platform to create the industry’s most complete IoT stack. These efforts are now bearing fruit as our successful joint venture has validated that the market demands a true end-to-end solution comprised of a comprehensive hardware portfolio, platform and cloud services, and integration and support.”
Novatel Wireless said the merger will give it a foundation for developing and marketing comprehensive solutions for the commercial telematics industry. The collective vision is to simplify the delivery of telematics solutions from device deployment to big data collection, analytics, and reporting.
http://investor.novatelwireless.com/releasedetail.cfm?ReleaseID=918626
