Novatel
Wireless, Inc. (Nasdaq: NVTL), a leading provider of intelligent
wireless solutions, today announced that it has received purchase orders
totaling approximately $7 million and has also executed a supply
agreement with an initial order quantity totaling $8.2 million to
provide M2M solutions to a range of customers spanning the after-market
telematics, commercial telematics and Remote Management and Control
(RMAC) markets.
KEY HIGHLIGHTS:
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Recently introduced solutions in Novatel Wireless’ M2M portfolio,
including the MiFi®
Powered™ SA 2100 and MT
3060 mobile tracking device, have experienced an increase in
customer adoption with anchor development partners. To further enhance
its value-add in strategic vertical segments and drive recurring
revenue, Novatel Wireless’ portfolio also includes its cloud hosted
N4A™ Device Manager, which incorporates advanced diagnostics and
integrated telematics features.
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The new business has been secured with leading M2M service providers
in targeted market segments. These segments include after-market
telematics for a range of leading edge applications such as Usage
Based Insurance (UBI) with the MT 3060, commercial telematics
including fleet management with the SA 2100 and MT 4100, and RMAC
leveraging Novatel Wireless’ new M2M platforms.
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After-market telematics orders are also accompanied by bookings for
licenses of Novatel Wireless’ N4A Device Manager software under which
Novatel Wireless will host the management of field devices for an
annual license fee.
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Although some shipments began in Q1 2014, the Company currently
anticipates that they will accelerate through the year and into Q1
2015 after the completion of any required software integration or
product technical acceptance.
Peter Leparulo, CEO, Novatel Wireless, said: “Novatel Wireless’
target markets represent areas of significant growth opportunity for the
company. As we continue to execute on our multiple-vertical market
approach, we will launch M2M solutions combining leading hardware design
with integrated software support tailored to specific market needs. We
look forward to continuing to drive forward innovation in the M2M space
that will meet and exceed customer demands.”
About Novatel Wireless
Novatel Wireless, Inc. is a leader in the design and development of
intelligent wireless solutions based on 2G, 3G and 4G technologies. The
company delivers specialized wireless solutions to carriers,
distributors, retailers, OEMs and vertical markets worldwide. Product
lines include MiFi® Intelligent Mobile Hotspots, Ovation™ USB modems,
Expedite® embedded modules, Mobile Tracking Solutions, Asset Tracking
Solutions, and Enabler smart M2M modules. These innovative products
provide anywhere, anytime communications solutions for consumers and
enterprises. Headquartered in San Diego, California, Novatel Wireless is
listed on NASDAQ: NVTL. For more information please visit www.nvtl.com.
(NVTLG)
This release may contain forward-looking statements, which are made
pursuant to the safe harbor provisions of the United States Private
Securities Litigation Reform Act of 1995, as amended to date. These
forward-looking statements involve risks and uncertainties. A number of
important factors could cause actual results to differ materially from
those in the forward-looking statements contained herein. These factors
include risks relating to technological changes, new product
introductions, continued acceptance of Novatel Wireless’ products and
dependence on intellectual property rights. These factors, as well as
other factors that could cause actual results to differ materially, are
discussed in more detail in Novatel Wireless’ filings with the United
States Securities and Exchange Commission (available at www.sec.gov)
and other regulatory agencies.
(C) 2014 Novatel Wireless, Inc. All rights reserved. The Novatel
Wireless name and logo are trademarks of Novatel Wireless, Inc. Other
Company, product or service names mentioned herein are the trademarks of
their respective owners.
Copyright Business Wire 2014