Vecima Announces Closing of Telematics Sale
Vecima Networks Inc. (TSX: VCM) announces the closing of the sale of the assets of its Telematics mobile and fixed-asset tracking segment, including its Nero Global Tracking software, to Lantronix, Inc., a global provider of Edge AI and Industrial IoT solutions that delivers intelligent computing, secure connectivity, and remote management for mission-critical applications.
As previously announced, 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 that was paid at closing and an additional approximately $2.0M CAD payable by year-end 2026.
About Vecima Networks
Vecima Networks Inc. (TSX: VCM) builds the intelligent infrastructure powering the next generation of connectivity. Through broadband access, content delivery, cloud-native software, automation, and AI-enabled solutions, Vecima helps service providers modernize cable and fiber networks, deliver exceptional broadband and video experiences, and operate more intelligent, efficient networks. As operators evolve toward AI-enabled, software-driven architectures, Vecima's platforms simplify operations, accelerate innovation, and enable the reliable, high-performance networks that connect homes, businesses, and communities around the world. Learn more at vecima.com.
