Novatel Wireless, a leading provider of solutions for the Internet of Things (IoT) and inventor of MiFi® technology, today announced that the Company's shareholders have approved the use of funds for its acquisition of DigiCore Holdings Limited (JSE:DGC), a leading provider of advanced fleet, usage based insurance, SaaS, and IoT solutions. The Company was also informed today that the shareholders of DigiCore have approved the acquisition. The transaction is expected to close in October 2015, subject to governmental and regulatory approvals and the satisfaction of customary closing conditions.
"These votes show our shareholders understand that the combination of Novatel Wireless and DigiCore will be uniquely positioned to compete more effectively and profitably in the global IoT marketplace," says Alex Mashinsky, CEO Novatel Wireless. "We look forward to the new opportunities of our collective business and to merging existing capabilities that will create a foundation for developing and marketing comprehensive solutions for the commercial telematics industry."