HAUPPAUGE, N.Y., Jan. 15,
2025 /PRNewswire/ -- Orbic North America, LLC ("Orbic"), an international
leader in mobile technology innovation, announced today that at the
close of the Consumer Electronics Show in Las Vegas that it has entered into an
agreement in principle with AJP Holding Company, LLC ("AJP") to
acquire from AJP a substantial position in the shares of Sonim
Technologies, Inc. (NASDAQ:SONM) ("Sonim"), a leading U.S. provider
of ultra-rugged mobility solutions. Upon execution of a definitive
agreement between Orbic and AJP, Orbic would become the largest
single shareholder of Sonim.
Following the closing of the transaction, Orbic intends to
initiate discussions with Sonim whereby the parties would be able
to begin an arm's length strategic process to identify, monetize
and deliver operating and financial synergies to both companies'
shareholders and customers across R&D, supply chains, and
geographic market expansion opportunities globally, including the
U.S., Europe, India, and other countries in Asia Pacific. Mike
Narula, President and CEO of Orbic, noted: "The dynamic
changes in the mobile connected device global marketplace requires
a flexible strategic focus to maximize our operating, manufacturing
and financial performance on behalf of our carrier customers, our
end users, and our vendors and suppliers. A relationship
with Sonim would be a continuation of our initiative to maintain
and grow our pre-eminent position as best-in-class developer and
manufacturer of innovative mobile solutions. We have a number of
other strategic partner global initiatives which we look forward to
announcing in the near future."
About Orbic
Orbic, a US-headquartered technology
company based in New York,
reimagines the connected experience by thinking outside of the
mainstream. Using best-in-class technology, Orbic provides
meaningful features to customers seeking something unique and
accessible to all, without exclusion. As a leader in developing and
manufacturing innovative mobile solutions for smart, value-tech
consumers, Orbic offers a full portfolio of connected solutions
from smartphones and tablets to mobile hotspots and connected
laptops. Orbic's extensive global ecosystem of partners, suppliers,
and carriers ensures that their products deliver exceptional value
and performance, making high-quality technology accessible to a
wider audience. For more information, visit www.orbic.us
About Sonim Technologies
Sonim Technologies is a
leading U.S. provider of ultra-rugged and rugged mobile solutions,
including phones, wireless internet data devices, accessories and
software designed to provide extra protection for users that demand
more durability in their work and everyday lives. Trusted by first
responders, government, and Fortune 500 customers since 1999, Sonim
currently sells a line of ruggedized mobility solutions through
tier one wireless carriers and distributors in North America, EMEA, and Australia/New
Zealand. For more information, visit
www.sonimtech.com.
For inquiries: Doug Benedict
Orbic North America, LLC
doug.benedict@orbic.us
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SOURCE Orbic
