Inseego Corp. (NASDAQ: INSG) announced the completion of the acquisition of Nokia’s Fixed Wireless Access (FWA) business on October 1, 2026. The transaction, initially announced on April 30, 2026, was executed pursuant to an Asset Purchase Agreement and a Subscription Agreement.
Under the terms of the Asset Purchase Agreement, Inseego purchased substantially all of the assets comprising Nokia’s FWA business. In exchange, Inseego issued 1,163,693 shares of common stock and warrants to purchase an aggregate of 521,139 shares of common stock. Additionally, Inseego assumed certain liabilities of the FWA Business.
Simultaneously, Nokia invested $10,000,000 in cash in Inseego. In consideration for this investment, Inseego issued Nokia 775,795 shares of common stock and warrants to purchase an aggregate of 290,569 shares of common stock.
Both sets of warrants have an exercise price of $4.26 per share, representing the 30-trading day volume weighted average price of Inseego’s common stock for the period ended September 25, 2026. The warrants are exercisable for a period expiring on October 1, 2030. The Consideration Warrants are exercisable for cash, while the Subscription Warrants are exercisable for cash or on a cashless basis at the holder's option.
Following the closing, Nokia holds approximately an 11% ownership interest in Inseego, not including the exercise of the warrants. The companies also entered into an amendment to the Asset Purchase Agreement on September 30, 2026, which stipulates that Nokia will make an additional cash payment of $10,000,000 to Inseego by October 15, 2026. This payment is intended to support Inseego’s engineering investment to drive interoperability between Inseego’s device OS and cloud offerings and Nokia’s technology ecosystems.
In connection with the transaction, Inseego and Nokia entered into a Lock-Up Agreement, which restricts Nokia from transferring the issued securities for one year (for 50% of the holdings) and two years (for the remaining 50%). They also executed a Registration Rights Agreement, requiring Inseego to file a registration statement with the SEC within one year of the closing to allow for the resale of the securities by Nokia.
The acquisition is expected to approximately double Inseego’s revenue and expand its global footprint across Europe, the Middle East, Asia, Oceania, and the Americas. Approximately 250 people from the acquired business will join Inseego to support operations in engineering, product management, supply chain, and customer support.
