India, April 30 -- Thursday, Inseego Corp. (INSG) announced an agreement to acquire Nokia's (NOK) Fixed Wireless Access CPE business, expecting to strengthen the company's position as a global wireless broadband leader with a broader portfolio.
As per the terms of the deal, Nokia will receive approximately a 7% equity stake in Inseego in the form of common stock and warrants, representing a value of US$20 million, at the closing.
Also, Nokia will make an additional $10 million investment in Inseego in the form of common stock and warrants, to further strengthen the commercial collaboration, that will bring its total ownership interest to approximately 11%.
The transaction includes plans for joint go-to-market initiatives between the two ...