Transaction expected to approximately double Inseego’s revenue and expand its global footprint across Europe, the Middle East, Asia, Oceania, and the Americas
SAN DIEGO, Oct. 01, 2026 (GLOBE NEWSWIRE) -- Inseego Corp. (NASDAQ: INSG) today announced the completion of its acquisition of Nokia’s Fixed Wireless Access (FWA) business, first announced on April 30, 2026.
The acquisition is expected to approximately double Inseego’s revenue and position the company as a global wireless broadband leader. By adding indoor, outdoor and millimeter-wave FWA solutions to its wireless broadband portfolio, Inseego expands its reach across consumer and business connectivity. The transaction also extends Inseego’s footprint to carriers across Europe, the Middle East, Asia, Oceania, and the Americas; and significantly expands its engineering capabilities.
Following the transaction, approximately 250 people associated with the acquired business will support Inseego’s expanded operations across engineering, product management, supply chain and sourcing, and customer support. This group includes employees joining Inseego and Nokia personnel who will continue to support the business under a transition services agreement.
To support its expanded global operations, Inseego has established an international headquarters in Amsterdam and a development center in Athens, expanded its presence in Bangalore, and added customer-facing sales and technical resources across its new markets.
“With the acquisition complete, Inseego enters its next chapter as the global wireless broadband leader," said Juho Sarvikas, CEO of Inseego. “We now have the scale, technology, and global reach to support carriers across business, residential, and mobile use cases.”
Under the terms of the acquisition and Nokia’s $10 million cash investment in Inseego, also completed today, Nokia received an equity ownership stake in Inseego in the form of approximately 1.9 million shares of Inseego common stock, representing an approximately 11% ownership interest. Nokia also received warrants to purchase an aggregate up of to approximately 0.8 million shares of common stock, at an exercise price of $4.26 per share.
In addition to the previously-announced terms of the acquisition, Nokia will also be providing a $10 million cash payment to Inseego by October 15, 2026 in support of Inseego’s engineering investment to drive the interoperability of its device OS and cloud platform with certain of Nokia’s technology ecosystems over the coming year.
Inseego and Nokia have designed their partnership to ensure continuity for existing customers and support for future growth. Nokia will provide support through the transition and refer new FWA opportunities to Inseego, including those where FWA is part of broader Nokia network deployments; considering the aim of delivering the outcomes that best serve customer interests and requirements.
The relationship will also extend to technology collaboration across AI-RAN, converged fiber and 5G connectivity, end-to-end network optimization and distributed edge computing. Together, the companies will explore how Nokia’s network infrastructure and Inseego’s intelligent edge solutions can advance AI-driven networking and the wireless edge.
“This is an important milestone for our customers, our teams, and both companies,” said Konstanty Owczarek, Chief Corporate Development Officer at Nokia. “Inseego brings the focus and expertise to take the FWA business forward. Our continued collaboration brings together our technologies and capabilities that can deliver greater value for our customers.”
About Inseego
Inseego is a global leader in wireless broadband, delivering fast, reliable connectivity to homes, businesses, and people on the move. With the acquisition of Nokia’s FastMile fixed wireless access product, Inseego offers one of the industry’s broadest cellular broadband portfolios, spanning fixed wireless gateways, mobile hotspots and routers, enterprise and industrial gateways, and cloud-based device, network, and subscriber management software. Backed by decades of wireless innovation and engineering expertise across 5G, Wi-Fi, antenna design, and cloud software, Inseego partners with mobile network operators worldwide to deliver connectivity at scale. Headquartered in San Diego, California, Inseego has offices in Amsterdam, Bangalore, and Athens. Learn more at www.inseego.com.