Vecima Announces Agreement to Sell Mobile and Fixed-asset Tracking Business to Lantronix
Vecima Networks Inc. (TSX: VCM) has announced an agreement to sell the assets of its Telematics mobile and fixed-asset tracking segment, including its Nero Global Tracking software (the “Telematics Business”), to Lantronix, Inc. (“Lantronix”), a global provider of Edge AI and Industrial IoT solutions that delivers intelligent computing, secure connectivity, and remote management for mission-critical applications.
Proceeds from the all-cash transaction are expected to be approximately $16.5M CAD, subject to customary working capital adjustments. The purchase price includes $14.5M CAD payable at closing and an additional $2.0M CAD payable by year-end 2026. The transaction represents an asset sale and is expected to close in the near term, subject to customary closing conditions.
The Telematics Business has been a part of Vecima since 2016, establishing a strong reputation for innovation, trusted customer relationships, and reliable fleet management solutions. The sale to Lantronix marks an exciting next chapter for the business, providing expanded opportunities for continued innovation, investment, and growth.
