Convergence Partners to acquire Ctrack from Inseego for $36m.

Convergence Partners, a private equity investor, agreed to acquire Ctrack, a South African operations of Inseego, an industry pioneer in 5G and intelligent IoT device-to-cloud solutions, for $36m. “The sale of our South African Ctrack operations is part of Inseego’s strategy to focus solely on target markets that are closely aligned with the growth of our 5G business. The proceeds further strengthen our balance sheet and increases liquidity to address our growing 5G pipeline," Dan Mondor, Inseego Chairman and CEO.