Convergence to acquire the telematics business of Inseego for $52m.

Convergence, an investment firm, agreed to acquire the telematics business of Inseego, an industry pioneer in 5G and intelligent IoT device-to-cloud solutions, for $52m. "The sale of our remaining telematics operations is part of our continued improvements in strengthening Inseego’s balance sheet and ensuring that we are well-positioned and focused on the growth of our 5G business. The sale proceeds will enable us to repay in full our existing short-term debt, complete the restructuring of our Convertible Notes, and add to our strong liquidity position, all while helping us to focus on addressing our growing 5G pipeline," Philip Brace, Inseego Executive Chairman.