SAN DIEGO--(BUSINESS WIRE)--
The Board of Directors of Inseego Corp. (NASD: INSG) today announced
that effective on the date following the 2017 Annual Meeting of
Stockholders, the size of the Board will be increased to six directors
and Jeffrey M. Tuder will be appointed as an independent director of the
company. Assuming the Annual Meeting takes place on June 14 as
scheduled, Mr. Tuder's appointment will become effective on June 15,
2017. Mr. Tuder is a veteran private equity and public securities
investor with over 20 years' investment experience, having worked
closely with executive management teams and board members of both public
and private companies to define and achieve strategic objectives and to
protect and enhance shareholder value.
Mr. Tuder's public equity and hedge fund experience includes leadership
roles at JHL Capital Group, KSA MidOcean, and Tremson Capital
Management. His private equity and fixed income experience includes
positions at Fortress Investment Group, Nassau Capital (Princeton
University's Endowment), ABS Capital Partners, and CapitalSource Finance.
"I look forward to joining Inseego's Board to assist the Company in
streamlining its operating structure and realizing the full value of its
unique portfolio of assets. In my view, these assets contain a
tremendous amount of value and optionality that is being
underappreciated by investors. In particular, Inseego's Ctrack brand
continues to have leading positions in a number of valuable and growing
end markets that should serve as a platform for future growth and
substantial value creation," said Mr. Tuder.
"The Inseego Board and management team welcomes Jeff to our Board. His
extensive investment and restructuring experience and industry knowledge
will be invaluable to us as we effect the change necessary to establish
the Company as a leading SaaS and solutions provider for the Internet of
Things," added Bob Pons, lead independent director of Inseego.
Mr. Tuder currently serves as an Independent Director and Chairman of
the Audit Committee for MRV Communications (NASD: MRVC), a
publicly-traded telecommunications network equipment provider, and he
serves on the Board of Advisors of Clique (www.cliqueapi.com),
a privately held voice communications solutions provider. He is a
graduate of Yale University where he obtained a B.A. in English
About Inseego Corp.
Inseego Corp. (Nasdaq: INSG) is a leading global provider of
software-as-a-service (SaaS) and solutions for the Internet of Things
(IoT). The Company sells its telematics solutions under the Ctrack
brand, including its fleet management, asset tracking and monitoring,
stolen vehicle recovery, and usage-based insurance platforms. Inseego
Corp. also sells business connectivity solutions and device management
services through Novatel Wireless, Inc. and Feeney Wireless (FW).
Inseego Corp. has over 30 years of experience providing customers with
secure and insightful solutions and analytics, with approximately
633,000 global subscribers, including 189,000 fleet management
subscribers. The Company is headquartered in San Diego, California. www.inseego.com
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may constitute forward-looking
statements. These forward-looking statements relate to a variety of
matters, including, without limitation, statements regarding Mr. Tuder's
future appointment to the Board and continuing to establish the company
as a leading SaaS sand solutions provider for the Internet of Things.
These forward-looking statements are made on the basis of the current
beliefs, expectations and assumptions of the management of the Company
and are subject to significant risks and uncertainty. Investors are
cautioned not to place undue reliance on any such forward-looking
statements. All such forward-looking statements speak only as of the
date they are made, and the Company undertakes no obligation to update
or revise these statements, whether as a result of new information,
future events or otherwise, except as may be required by law. These
forward-looking statements involve many risks and uncertainties that may
cause actual results to differ materially from what may be expressed or
implied in these forward-looking statements. Such risks include risks
related to attracting and retaining key employees, risks related to the
Company's financial condition, and risks related to the introduction and
customer acceptance of new products and services. For a further
discussion of risks and uncertainties that could cause actual results to
differ from those expressed in these forward-looking statements, as well
as risks relating to the business of Inseego Corp. in general, see the
risk disclosures in our Annual Report on Form 10-K for the year ended
December 31, 2016, and in other subsequent filings made with the SEC by
Inseego Corp. (available at www.sec.gov).
Source: Inseego Corp.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170530005449/en/
Media Relations Contact:
Hoogbruin, (858) 812-8046
Michael Sklansky, (858) 431-0792
Source: Inseego Corp.
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