Inseego Acquires Nokia's Fixed Wireless Access Business

Inseego (INSG) and Nokia (NOK) announce that they have signed an agreement in which Inseego will acquire Nokia's Fixed Wireless Access CPE business, subject to the satisfaction of customary closing conditions. The transaction will strengthen Inseego's position as a global wireless broadband leader with a broader portfolio spanning fixed wireless, mobile broadband, and cloud-managed connectivity for consumer and business markets, and is expected to approximately double the company's revenue, and give it a global footprint. The transaction includes plans for joint go-to-market initiatives between the two companies in 6G and wireless edge to capture the opportunities in AI and to further advance the FWA business. The collaboration will also explore joint innovation and carrier 5G monetization opportunities, as well as consumer and enterprise growth opportunities at the wireless edge. These efforts are expected to support and drive customer continuity, future revenue growth, and technology leadership at the wireless edge. Under the agreement, at the closing of the transaction, Nokia will receive approximately a 7% equity stake in Inseego in the form of common stock and warrants, representing a value of $20M. At the close of the agreement, Nokia will make an additional $10M 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 is expected to close in Q4 2026, subject to certain terms and conditions. The agreement is not financially material to Nokia. Nokia will conduct consultations with works council or other employee representative bodies where applicable.Nokia and Inseego will work closely together to ensure seamless continuity for customers through a carefully managed transition, with a strong focus on service, support, management, and staff continuity.