“Inseego 2.0” strategy is focused on emerging growth markets and new product innovations
SAN DIEGO, CA – January 25, 2018 (BUSINESSWIRE) – Inseego Corp. (Nasdaq: INSG) – a global leader in software-as-a-service (SaaS) business intelligence solutions, Internet of Things (IoT) and mobile technology, today announced a new organizational structure designed to facilitate the company’s strategic plan. The company will be organized around two strategic business units: Enterprise SaaS Solutions and IoT & Mobile Solutions, both supported by a single organization, Global Shared Services. The new structure integrates the company’s core competencies in mobile devices and cloud platforms to increase customer engagement in growth markets, accelerate the development of new products and improve operational efficiency.
“Inseego’s tremendous strength in technological innovation and capacity to bring new products to market have been underutilized,” said Dan Mondor, CEO of Inseego Corp. “The new leadership team has developed a strategic plan and product roadmap utilizing internal development and select global technology partners to accelerate our product innovation cycles. Our core strategy is to deliver integrated end-to-end solutions. Each business unit is well positioned to fulfill our customers’ needs for stand-alone wireless devices, cloud platform applications or a solution comprised of both.
“We have expanded our global reach and optimized investments in devices and cloud platforms to strengthen our competitive advantage. The company-wide mandate is to dramatically increase the number of new products we bring to market, including 5G residential broadband gateways, wireless industrial gateways, smart IoT devices, and new cloud solutions for high growth asset tracking and management verticals, such as aviation. Compelling product innovation together with numerous recent wins in high growth vertical markets, are strong leading indicators of sustained profitable growth in both our Enterprise SaaS and IoT & Mobile solutions businesses. The new integrated organization, which we refer to as Inseego 2.0, is the foundation for increasing shareholder value,” Mondor continued.
Inseego Enterprise SaaS Solutions, including Ctrack and DMS brands, reduce asset lifecycle costs, improve productivity, enhance security and safety, and dramatically reduce asset downtime, resulting in compelling return-on-investment (ROI) for asset management and service provider customers. Inseego’s intellectual property in business intelligence provides near real-time actionable insights and the availability of third-party artificial intelligence (AI) technology powers next generation predictive analytics. Traditional asset tracking and fleet management markets are expected to grow 25% through 2021(Market and Markets 2017). The aviation asset management market is another high growth opportunity for Inseego with recent significant wins and new engagements with airports, airlines and ground service equipment (GSE) operators.
Inseego IoT & Mobile Solutions, including MiFi and Skyus brands, have delivered significant innovations to our consumer, enterprise and service provider customers since the development of commercial mobile technology. Current customers use Inseego solutions for a range of IoT and mobile applications including remote monitoring, city infrastructure management, mobile broadband, industrial IoT, SD WAN failover and smart grid management. The introduction of 5G technology is rapidly expanding new enterprise and consumer market use cases and opportunities, including residential broadband gateways, industrial automation, massive machine connectivity and autonomous vehicles. Worldwide IoT spending is expected to increase at a 14% compound annual growth rate, surpassing $1 trillion in 2020 (IDC 2017). 5G is expected to contribute $12.3 trillion to the global economy by 2035 (Qualcomm-commissioned study).
Global Shared Services provides critical IT infrastructure, supply chain, procurement and finance services that support both solutions business units. In addition to business unit support, the Global Shared Services mandate is to implement ongoing cost reduction, business process improvement projects and to identify new opportunities that drive continuous operational efficiency improvements.
About Inseego Corp.
Inseego Corp. (Nasdaq: INSG) a global leader in software-as- a-service (SaaS) business intelligence solutions, Internet of Things (IoT) and mobile technology, is transforming business mobility through its broad portfolio of solutions. We enable a wide array of applications for worldwide service provider, enterprise and SMB markets with our asset tracking and carrier activation solutions. Inseego’s high-performance Skyus modems and gateways, and MiFi branded intelligent mobile devices power a wide array of consumer, service provider, SMB and mission critical enterprise applications with a “zero unscheduled downtime” mandate – including industrial IoT, SD WAN failover management and broadband mobile WiFi hotspots. Inseego is headquartered in San Diego, California with offices worldwide. www.inseego.com Twitter @inseego
Cautionary Note Regarding Forward-Looking Statements
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 Inseego’ 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 Inseego’ filings with the United States Securities and Exchange Commission (available at www.sec.gov) and other regulatory agencies.
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