je.st
news
Novatel sells mobile ops, MiFi spots to TCL for USD 50 mln
2016-09-23 09:29:00| Telecompaper Headlines
(Telecompaper) Novatel Wireless has agreed to sell its mobile broadband operations, including its MiFi branded hotspots and USB modem lines, to Hong Kong's TCL for USD 50 million in cash. The deal is subject to the usual regulatory approvals, as well as the approval of Novatel stockholders and convertible noteholders. The deal is expected to close in the first quarter of next year. Novatel will now put its attention on creating a new public holding company and a new operating structure. The company is currently considering several names and logos to be adopted by the new company going forward.
Tags: mobile
usd
spots
sells
Category:Telecommunications