SAN DIEGO, Dec. 11, 2014 (GLOBE NEWSWIRE) -- Novatel Wireless, Inc., (Nasdaq:MIFI), a leading provider of wireless solutions for the Internet of Things (IoT) announced a distribution agreement and strategic partnership with NOMD Telecom and Information Technologies Company, a leading provider of telecom and IT solutions in the Kingdom of Saudi Arabia (KSA). Under the Agreement, NOMD will offer a comprehensive portfolio mix of Novatel Wireless MiFi® brand IoT specialized and scalable telematics and telemetry solutions and MiFi brand of LTE mobile hotspots throughout KSA. The partnership addresses market needs to offer proven, fully integrated IoT solutions for a variety of M2M verticals, operators and the enterprise in order to simplify deployment and ensure reliability.
According to a December 2014 report from Micro Market Monitor, the KSA IoT and M2M communication market is estimated to grow from $4.88B in 2014 to $16.01B by 2019, at a CAGR of 26%. The main drivers for growth in the region are recent infrastructure developments and government regulation programs, including an increase in LTE deployments. The areas that will see the most growth are in the telematics verticals, particularly transportation and automotive segments and the telemetry verticals, including smart cities, video surveillance, and digital signage. The MiFi Powered SA 2100 LTE Gateway is an ideal turnkey solution with an open platform that is well-suited for these applications, in addition to other specialized solutions in the portfolio.
One of the major challenges the region faces with M2M is fragmentation and a portfolio selection from leading IoT companies with strict quality standards and complete solution ownership. The ability to offer vertical-specific solutions that work seamlessly across a range of applications with flexibility, scalability, turnkey cloud services and compatibility with service provider platforms is a critical competitive advantage which Novatel Wireless offers NOMD and their customers.
"The MiFi brand of M2M and IoT solutions perfectly complements our offering and we are excited to provide these premium solutions to our valued customers and partners," said, Mohammed Alkhushail, CEO of NOMD. "Novatel Wireless is widely regarded in the region as a vertically aligned industry IoT leader, that has a reputation for high-quality standards and a proven track record for products that perform reliably in the area's environmental landscape. With this addition to our portfolio, NOMD will ensure our customers can have the confidence to deploy best-of-breed IoT and M2M solutions for almost any requirement, quickly and easily."
"NOMD has an excellent presence in the Kingdom and has impressed the channel as a reliable solutions and logistics partner for many years, which is why we selected them as a strategic partner in the region," said Slim Souissi, President and COO of Novatel Wireless. "This partnership builds on our strategy to further increase our leadership in the Middle East while offering NOMD customers and partners new opportunities to diversify and increase their revenue streams through the delivery of our specialized IoT portfolio."
Novatel Wireless has a solid reputation for delivering high-quality IoT solutions in the Middle East. The company delivered connected vehicle solutions in partnership with Abdul Latif Jameel Co. Ltd. (ALJ), the sole distributor of Toyota, Lexus and Daihatsu vehicles in Saudi Arabia, mobile broadband USB modems with Saudi Telecom Company (STC), and the MiFi brand of mobile hotspots with Zain. Most recently, Novatel Wireless announced a distribution agreement with Server Corner Globaltech, servicing the UAE, Bahrain, and Qatar.
About Novatel Wireless
Novatel Wireless, Inc. (Nasdaq:MIFI) is a leader in the design and development of M2M wireless solutions based on 2G, 3G and 4G technologies. The Company delivers Internet of Things (IoT) and Cloud SAAS services to carriers, distributors, retailers, OEMs and vertical markets worldwide. Product lines include MiFi® Intelligent Mobile Hotspots, USB modems, Expedite® and Enabler embedded modules, Mobile Tracking Solutions, and Asset Tracking Solutions. These innovative products provide anywhere, anytime communications solutions for consumers and enterprises. Novatel Wireless is headquartered in San Diego, California. http://www.nvtl.com. @MiFi (Twitter)
MiFi is a registered trademark of Novatel Wireless, Inc. - the creators and patent holders of MiFi technology.
NOMD Telecom and Information Technologies Company, a fully owned subsidiary of the Future Horizons Group, provides a complete suite of telecom and IT solutions servicing the Kingdom of Saudi Arabia since 1997. As a total solutions provider and logistics partner, their offering includes products, services, projects, training and consulting, outsources human resources and mobile application development.
This release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, as amended to date. These forward-looking statements involve risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements contained herein. These factors include risks relating to technological changes, new product introductions, continued acceptance of Novatel Wireless' products and dependence on intellectual property rights. These factors, as well as other factors that could cause actual results to differ materially, are discussed in more detail in Novatel Wireless' filings with the United States Securities and Exchange Commission (available at www.sec.gov) and other regulatory agencies.
CONTACT: Editorial Contacts:
For Novatel WirelessAnette Gavenagaven@nvtl.com
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