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

Proceeds from the all-cash transaction are expected to be approximately $16.5M CAD, subject to customary working capital adjustments. The purchase price includes $14.5M CAD payable at closing and an additional $2.0M CAD payable by year-end 2026. The transaction represents an asset sale and is expected to close in the near term, subject to customary closing conditions.

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