StockNews.AI
SONM
StockNews.AI
216 days

Orbic North America, LLC Announces Agreement in Principle to Acquire a Substantial Equity Ownership Position in Sonim Technologies, Inc.

1. Orbic plans to acquire significant shares in Sonim Technologies. 2. Orbic aims to become the largest shareholder of Sonim upon agreement. 3. Post-acquisition, Orbic will seek operational synergies with Sonim. 4. The partnership targets market expansion across various regions. 5. Orbic focuses on enhancing performance through strategic initiatives.

M&A
-18.5%Current Return
VS
-0.02%S&P 500
$401/15 11:23 AM EDTEvent Start
$3.2601/16 05:37 PM EDTLatest Updated
6m saved
Insight
Article

FAQ

Why Bullish?

The acquisition indicates confidence in Sonim's market potential, similar to prior beneficial partnerships.

How important is it?

A major acquisition signals potential growth and stability for Sonim's share price.

Why Long Term?

This strategic acquisition could lead to sustained growth and market strength for Sonim.

Related Companies

SONMORBC
, /PRNewswire/ -- Orbic North America, LLC ("Orbic"), an international leader in mobile technology innovation, announced today that at the close of the Consumer Electronics Show in Las Vegas that it has entered into an agreement in principle with AJP Holding Company, LLC ("AJP") to acquire from AJP a substantial position in the shares of Sonim Technologies, Inc. (NASDAQ:SONM) ("Sonim"), a leading U.S. provider of ultra-rugged mobility solutions. Upon execution of a definitive agreement between Orbic and AJP, Orbic would become the largest single shareholder of Sonim. Following the closing of the transaction, Orbic intends to initiate discussions with Sonim whereby the parties would be able to begin an arm's length strategic process to identify, monetize and deliver operating and financial synergies to both companies' shareholders and customers across R&D, supply chains, and geographic market expansion opportunities globally, including the U.S., Europe, India, and other countries in Asia Pacific. Mike Narula, President and CEO of Orbic, noted: "The dynamic changes in the mobile connected device global marketplace requires a flexible strategic focus to maximize our operating, manufacturing and financial performance on behalf of our carrier customers, our end users, and our vendors and suppliers. A relationship with Sonim would be a continuation of our initiative to maintain and grow our pre-eminent position as best-in-class developer and manufacturer of innovative mobile solutions. We have a number of other strategic partner global initiatives which we look forward to announcing in the near future." About OrbicOrbic, a US-headquartered technology company based in New York, reimagines the connected experience by thinking outside of the mainstream. Using best-in-class technology, Orbic provides meaningful features to customers seeking something unique and accessible to all, without exclusion. As a leader in developing and manufacturing innovative mobile solutions for smart, value-tech consumers, Orbic offers a full portfolio of connected solutions from smartphones and tablets to mobile hotspots and connected laptops. Orbic's extensive global ecosystem of partners, suppliers, and carriers ensures that their products deliver exceptional value and performance, making high-quality technology accessible to a wider audience. For more information, visit www.orbic.us About Sonim TechnologiesSonim Technologies is a leading U.S. provider of ultra-rugged and rugged mobile solutions, including phones, wireless internet data devices, accessories and software designed to provide extra protection for users that demand more durability in their work and everyday lives. Trusted by first responders, government, and Fortune 500 customers since 1999, Sonim currently sells a line of ruggedized mobility solutions through tier one wireless carriers and distributors in North America, EMEA, and Australia/New Zealand. For more information, visit www.sonimtech.com. For inquiries: Doug BenedictOrbic North America, LLC[email protected] SOURCE Orbic WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Related News