Vecima Announces Closing of Telematics Sale
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.
Forward-Looking Statements
This news release contains forward-looking information regarding the timing and receipt of the $2.0 million deferred portion of the purchase price. This information is based on the assumption that Lantronix will perform its payment obligations under the purchase agreement and is subject to risks relating to counterparty performance and any applicable adjustment, withholding or set-off rights under the purchase agreement. Actual results may differ materially. Readers are referred to the risk factors described in Vecima’s Annual Information Form dated September 25, 2025 and its other continuous disclosure filings available on SEDAR+. Vecima undertakes no obligation to update this forward-looking information except as required by law.
Investor Relations: 250-881-1982, invest@vecima.com
Media Relations: bernadette.dunn@vecima.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20260805600454/en/
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