Vecima to Sell Telematics Tracking Business to Lantronix

Vecima Networks  has announced an agreement to sell the assets of its Telematics mobile and fixed-asset tracking segment, including its Nero Global Tracking software, to Lantronix, Inc., a global provider of Edge AI and Industrial IoT solutions offering intelligent computing, secure connectivity, and remote management for mission-critical applications.

The all-cash transaction is expected to bring in proceeds of approximately $16.5 million CAD, subject to standard working capital adjustments. Of that total, $14.5 million CAD is payable at closing, with an additional $2.0 million CAD due by year-end 2026. Structured as an asset sale, the deal is expected to close in the near term, pending customary closing conditions.

The Telematics Business has been part of Vecima since 2016, building a strong reputation for innovation, reliable fleet management solutions, and long-standing customer relationships. Its move to Lantronix is described as an opportunity for continued growth, investment, and innovation under new ownership.

Sumit Kumar, President & CEO of Vecima Networks, said the Telematics Business...