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Wheelings & Dealings: Novatel Deal to Create Full-Stack Telematics Powerhouse

By Ken Briodagh June 23, 2015

Novatel Wireless, a provider of IoT solutions and inventor of MiFi(R) technology, has signed a definitive agreement to acquire 100 percent of DigiCore Holdings Limited, an advanced M2M communication and telematics solutions maker, for an aggregate purchase price of about $87 million.

“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 and DigiCore have worked together since 2013 to build an end-to-end, global service SaaS platform. This acquisition will unify Novatel Wireless' hardware with DigiCore’s Ctracks global telematics SaaS offering for the Fleet Management, User-Based Insurance, and Asset Tracking and Monitoring markets. These will be combined with the services offered by Novatel Wireless' recently acquired Feeney Wireless to deliver a full-stack IoT solution for the global transportation industry.

“This acquisition will allow Novatel Wireless to continue to accelerate towards the number one position in the Internet of Things through organic growth, strategic acquisitions, and increasing quarterly SaaS activations,” said Mashinsky. “None of our competitors can match the combination of hardware expertise that Novatel Wireless has accumulated and the platform depth and analytics capabilities that DigiCore has developed on a global scale.”

It looks like the M&A trend continues within the IoT. What will be interesting to see is what these partnerships can do for the industry once the dust settles. 




Edited by Dominick Sorrentino
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