CALGARY, Alta. — CSI Wireless is selling its fixed wireless telephone business so it can focus on its GPS products.
The company is selling the fixed wireless telephone segment of its business to Telular Corporation of Vernon Hills, Ill. The deal is worth about $14.8 million, the company reported.
CSI officials say the company will now focus all of its resources on its GPS products.
“CSI has historically participated in both the Wireless and GPS markets, which have fundamentally different business models,” explained Stephen Verhoeff, president and CEO of CSI Wireless. “This has created a number of challenges for the company both internally, and externally. After much deliberation, we determined that the GPS and Fixed Wireless businesses would perform better, and be more appropriately valued, if separated. We reviewed a number of alternatives, and determined that divesting our Fixed Wireless business to Telular was the best option. We are confident about Telular’s plans for the Fixed Wireless markets and both companies agreed that the businesses would benefit from consolidation. Moving forward, CSI will be a ‘pure-play’ GPS company, focused on becoming the preeminent supplier of GPS products to all the markets we serve.”
Truck News is Canada's leading trucking newspaper - news and information for trucking companies, owner/operators, truck drivers and logistics professionals working in the Canadian trucking industry. All posts by Truck News