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BRIEF-Inseego announces termination of transaction with TCL
June 7, 2017 / 9:52 PM / 4 months ago

BRIEF-Inseego announces termination of transaction with TCL

June 7 (Reuters) - Inseego Corp:

* Inseego announces termination of transaction with TCL, leadership changes, and company-wide restructuring

* Inseego Corp - ‍inseego and TCL terminate agreement to sell MIFI business​

* Inseego Corp - ‍guides to positive free cash flow in Q4 2017​

* Inseego Corp - ‍board-approved restructuring intended to streamline operations​

* Inseego Corp - ‍targets minimum $25-30 million annualized adjusted EBITDA run-rate by year-end 2017​

* Inseego Corp - ‍targets minimum $25-30 million annualized adjusted EBITDA run-rate by year-end 2017​

* Inseego Corp - ‍philip Falcone elected as chairman of board of directors​

* Inseego Corp - ‍dan Mondor named CEO​

* Inseego Corp - ‍dan Mondor replacing Sue Swenson, CEO of inseego since 2015​

* Inseego Corp - company will immediately execute a restructuring plan that is expected to result in a minimum of $15 million of annualized cost savings

* Inseego Corp - ‍in addition, company is reviewing potential to monetize certain non-core assets, brands and IP​ Source text for Eikon: Further company coverage:

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