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NEWS & ANNOUNCEMENTS

KORE Wireless Group to Acquire RacoWireless

Transaction Fueled by Recent Strategic Investment in KORE by ABRY Partners

Combined Entity with Heightened Scale Will Drive Global Adoption and Innovation in the Fastest-Growing Segment of the Wireless Communications Industry

ATLANTA, BOSTON and CINCINNATI – November 11, 2014 – KORE Wireless Group, Inc. (“KORE”), the leading global provider of managed M2M communications services, today announced that ABRY Partners (“ABRY”) one of the most experienced and successful communication sector-focused private equity investment firms in North America, has acquired a majority interest in KORE. This investment, established in conjunction with the current KORE partners, provides growth and acquisition capital that will allow KORE to further its goal of creating the pre-eminent independent provider of broad-based M2M service solutions on a global basis.

As the first step in its broader strategy, KORE also today announced the acquisition, in an all-cash transaction, of RacoWireless (“Raco”), a company recognized for its experience and reputation for making IoT/M2M easy by providing end-to-end connectivity solutions. Following the completion of this transaction, the combined company will have offices in five countries and serve more than 3 million subscribers on behalf of over 1,500 customers using services in more than 110 markets around the world.

The combined organization is primed to deliver, in short order, an unprecedented portfolio of connected technology, location-aware solutions, and management tools in a way that has never before been experienced in the industry. The acquisition is subject to completion of certain regulatory and other consents, and is expected to close in the fourth quarter of 2014.

“We are standing at a historic inflection point in our industry where scalability and innovation are critical, and the financial partnership with ABRY delivers the capital and expert support necessary to rapidly develop the scale demanded by global customers in what has so far been a fragmented market,” said Alex Brisbourne, CEO of KORE. “Strategic acquisitions both in advanced connectivity and richer applications solutions are an important goal, as scale and global reach are of paramount importance to our large applications and enterprise customers. These customers seek to leverage new M2M technologies that enable more efficient, innovative, and in some cases, disruptive business models going forward”, he said.

“This acquisition is a great fit between two companies that have been pioneers in this space,” said John Horn, President of Raco who will become the Executive Vice President and Chief Strategy Officer. “This is a unique opportunity that will redefine the IoT/M2M industry, and create a company that has the right scale and focus to shape the course of the Internet of Things.”

“We are delighted to be moving rapidly with this first step in our expansion strategy, and create further value for our customers and partners both nationally and globally, leveraging the integrated solutions that the company can deliver for their businesses,” said Brisbourne.

The combined company’s increased scope and scale will provide customers and partners the benefits of a more diverse, global, footprint and access to an award-winning set of development and management tools.

“We have been closely watching this industry as it starts to take off on a global scale,” said Blake Battaglia, partner at ABRY Partners. “Our commitment to investing in KORE as an engine for global growth is, we believe, an indication of the opportunity within this industry space, and we are excited to be a part of facilitating this first step in the inevitable consolidation to take place as the market moves from its current nascent state”, he said.

Both KORE and Raco have been independently recognized in the industry for many years around their exceptional technology platforms and tools.

About KORE Wireless Group

KORE is the world’s largest wireless network provider specializing exclusively on the rapidly expanding global machine-to-machine (M2M) communications market. Operating under the KORE Telematics brand in the USA ,and providing solutions to enterprises and operators under the KORE Systems brand, KORE provides unified control and management for cellular and satellite network service delivery in more than 180 countries worldwide, KORE empowers its application, hardware and wireless operator partners to efficiently deliver M2M solutions for connected devices across the globe. M2M applications in industries as diverse as healthcare, utilities, enterprise IT, transaction processing and fleet management rely on the KORE network to deliver operational efficiencies and cost-savings. KORE offers a range of technologies — including GSM, HSPA, CDMA EV-DO and LTE, as well as satellite services — that ensure the greatest possible reliability and coverage. For more information, please visit www.koretelematics.com.

About RacoWireless

RacoWireless (www.racowireless.com) is a leading provider of wireless data solutions to the machine-to-machine (M2M) industry. The company lives by its mantra to ‘make it easy’ by providing support for companies to build, manage and enhance wireless M2M applications. RacoWireless can assemble a flexible, end-to-end M2M wireless connectivity solution for its partners – including delivering custom rate plans, tailored billing solutions and customized wireless connectivity as well as helping them brand their M2M applications and delivering 24/7 customer service. Among its numerous awards, RacoWireless has been recognized with a Stevie® Award from the American Business Awards as 2012’s “Most Innovative Tech Company” and as the “Entrepreneurial Company of the Year” by Frost and Sullivan.

About ABRY Partners

Founded in 1989, ABRY Partners is one of the most experienced and successful media, communications, business and information services focused private equity investment firms. ABRY invests in high quality companies domestically and abroad and partners with management teams to help build world class businesses. One of ABRY’s highest priority investment initiatives is to identify and invest in rapidly growing areas of communications, IT infrastructure and managed services including M2M/IoT services, managed cloud and networking services, unified communications and other broadband-oriented services fulfilling the IT and communication needs of carriers, enterprises, and application service providers. Since its founding, ABRY has completed over $42.0 billion of leveraged transactions and other private equity, mezzanine or preferred equity placements, representing investments in over 450 properties.

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RacoWireless Enables Rapid IoT Deployments with Launch of IoT App Store

RacoWireless’ Application Marketplace meets the industry need for access to new IoT product sets and features

LAS VEGAS – September 9, 2014 – RacoWireless, a global Internet of Things (IoT) service provider, today announced the launch of its Application Marketplace, an app store empowering companies from all over the globe to quickly build, enhance and sell connected IoT/M2M solutions. Building on the Omega DevCloud announcement in August, the company is maintaining momentum with the IoT application store.

The Application Marketplace allows application developers to create new revenue streams by offering their value-added products and features to a growing community of solution and service providers. Solutions providers, in turn, gain the ability to add quantifiable value to their new and existing products. Built on RacoWireless’ Position Logic platform, the Application Marketplace allows customers to select from a growing array of feature-rich applications and have them seamlessly integrate into their connected solutions.

“While ‘making it easy’ is our mantra, part of that message is speed-to-market,” said John Horn, President of RacoWireless. “With the Application Marketplace, we are enabling our partners and solution providers to be able to get to market faster than ever before. This brings together both service providers and application developers in a way that is clearly needed in the IoT space. Now customers can quickly enhance their existing products, or build new products with a growing library of cost-saving and feature-rich applications.”

The ability to deepen the value proposition of service providers comes from the development of new applications. Aiding in that development is the introduction of Omega DevCloud, allowing web developers to build connected applications using common web language.

“Not only are we making the Internet of Things and M2M easier, we are making it exciting,” said Felix Lluberes, President of Location-Based Services at RacoWireless. “All of these tools come together to make this ecosystem work in a synchronistic way. By creating the Application Marketplace, we’ve opened the doors to innovation and monetization.”

Recently named as the “Best Application Development Environment” by M2M Evolution Magazine, RacoWireless’ Position Logic is a location-based services platform that features an intuitive environment to implement and control end-to-end, connected solutions. Operating in 70 countries, the platform will allow both new and existing customers access to enhanced features, further empowering customers with dynamic value.

The Application Marketplace is currently available. For more information, visit www.positionlogic.com/appmarketplace. See the Application Marketplace in action in booth #4826 at Super Mobility Week 2014, September 9-11, 2014, in Las Vegas.

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RacoWireless Announces Launch of Omega DevCloud

LAS VEGAS – August 12, 2014 – RacoWireless (www.racowireless.com), a global machine-to-machine (M2M) service provider, today announced that it will launch Omega DevCloud, facilitating communication with IoT applications in a standardized, easy-to-use environment. The new product will remove the historical obstacles to device communication by providing an intuitive interface that is able to take device messages and commands, in any format and on virtually any device, and translate the data into a standardized format, common to web developers.

“Our mission in everything that we do is to ‘make it easy’, and with the launch of Omega DevCloud, we are once again taking the complicated and making it easy,” said John Horn, president of RacoWireless. “We see a very fragmented space as companies and individuals from all backgrounds are clamoring to adopt connected technologies. However, it has been a challenge for many to get to market because of the lack of industry standards and high upfront development costs. With the launch of Omega DevCloud, we are changing all of that.”

The new set of cloud-based tools, housed in RacoWireless’ award-winning Omega Management Suite, will dramatically simplify communication with M2M devices by wrapping complex, socket-based protocols in a standards-based and fully customizable restful API.

Raco’s Director of Software Engineering, Adam Schaible described the product: “Omega DevCloud is a web-based REST/JSON API built on a hardened bi-directional M2M communication core that supports both TCP and UDP protocols. It’s as easy as sending device traffic to us and telling us what your API should look like. From there, you can send and receive device data with simple web services.”

Using standardized communication protocols, Omega DevCloud takes any data infrastructure and translates it into a common web language, allowing support to virtually any device, regardless of connectivity method.

“That is what is really exciting and game-changing about this product: it works for anyone, on any device,” added Horn. “No longer do developers need custom integration for specific devices, with DevCloud we’ve created a ubiquitous standard for IoT application development.”

DevCloud will be hosted in enterprise-level data centers that ensure that adopters are able to support mission-critical M2M and IoT applications that require full redundancy and critical-level security, while eliminating the need for significant expenses on costly data infrastructure.

The product will be made available to the general public in September. Early adopters can pre-register today at www.racowireless.com/getstarted.

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RacoWireless Wins 2014 Product of the Year Award with LBS Platform, Position Logic

Position Logic, a leading Location-Based Services platform, garners award for best asset tracking platform in 2014

Cincinnati, OH – June 25, 2014 – RacoWireless (www.racowireless.com), a global machine-to-machine (M2M) service provider, has won the 2014 Product of the Year award from M2M Evolution Magazine for its Location-Based Services platform, Position Logic. The award recognizes the Position Logic platform for the innovative and cutting-edge location-based services that allow businesses to improve their operations through asset tracking.

“We’re honored to be recognized by M2M Evolution Magazine for this award,” commented John Horn, president of RacoWireless. “Our Position Logic platform really provides the best set of scalable, location-based tools in the industry. With more than 400 unique features and an ever-growing device library, we’re making it as easy as possible for companies to manage their assets regardless of type or location.”

Position Logic integrates more than 380 devices into an intuitive, cloud-based platform that allows users to control their assets in real-time. Available on any desktop or mobile browser, Position Logic’s location-based services and support are also accessible through its own responsive mobile application, enabling customers to get the customized tools and support needed, anywhere in the world.

RacoWireless’ LBS services are currently deployed in 70 countries with particularly deep penetration throughout the Americas.

“The foundation of our entire model is to make it easy for companies of all sizes to deploy powerful location-based services with complete scalability, and with the latest release of our Position Logic platform, we’ve made it easier than ever to build and grow a successful asset tracking or GPS tracking business,” noted Raco’s president of Location-Based Services, Felix Lluberes. “We’ve integrated features that allow for deeper visibility and control to take tracking to a new level.”

The winners of M2M Evolution’s Product of the Year will be announced officially in July’s edition of the magazine and on www.m2mevolution.com. For more information, contact RacoWireless directly at contact@racowireless.com.

About RacoWireless

RacoWireless (www.racowireless.com) is a leading global provider of wireless data solutions to the machine-to-machine (M2M) industry. The company lives by its mission to ‘make it easy’ by providing support for companies to build, manage and enhance wireless M2M solutions. Among its numerous awards, RacoWireless has been recognized as leader in wireless innovation and entrepreneurship. Visit www.racowireless.com for more information.

Learn more about Position Logic here: http://www.positionlogic.com

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Novatel Wireless and RacoWireless Provide Aftermarket Telematics Solution Targeting LATAM Markets

SAN DIEGO and NAPLES, Fla. – June 20, 2014 – Novatel Wireless, Inc. (Nasdaq: NVTL), a leading provider of intelligent wireless solutions, and RacoWireless, a global provider of wireless data and location-based solutions, today announced the incorporation of Novatel Wireless’ integrated product line with RacoWirelessPosition Logic platform, providing a full, end-to-end aftermarket telematics solution for LATAM markets.

KEY HIGHLIGHTS:

  • The platform integration includes Novatel Wireless’ MT 2500, part of the Novatel Wireless Mobile Tracking portfolio, which captures and monitors driver behavior, relaying vehicle information on rapid acceleration, harsh braking, speed violations and excessive idling. With an optional battery for communications when power is lost, the MT 2500 offers a feature rich solution with low implementation and operational costs. 
  • Teaming with RacoWireless provides customers with a bundled solution with Novatel Wireless products, RacoWireless service and RacoWireless’ Position Logic platform that allows companies to track anything anywhere through a powerful, award-winning interface.
  • The MT-Gu is also on the list of GPRS devices that supports the Position Logic Platform, which has been a top rated telematics device in the LATAM market for more than six years.

SUPPORTING QUOTE:

  • Joe Peterson, VP M2M Sales, Novatel Wireless, said: “The Position Logic platform excels at providing its customers with precision location based services. Novatel Wireless is excited to partner with RacoWireless to provide customers in the LATAM market with a bundled solution for aftermarket telematics.” 
  • Felix Lluberes, President of Location-Based Services, RacoWireless, said: “Novatel Wireless’ leading M2M solutions are a clear choice for aftermarket telematics deployments. Coupling their leading devices with our platform enables us to deliver a full featured, end-to-end solution to our customers.”

About Novatel Wireless

Novatel Wireless, Inc. is a leader in the design and development of intelligent wireless solutions based on 2G, 3G and 4G technologies. The company delivers specialized wireless solutions to carriers, distributors, retailers, OEMs and vertical markets worldwide. Product lines include MiFi® Intelligent Mobile Hotspots, OvationTM USB modems, Expedite® embedded modules, Mobile Tracking Solutions, Asset Tracking Solutions, and Enabler smart M2M modules. These innovative products provide anywhere, anytime communications solutions for consumers and enterprises. Headquartered in San Diego, California, Novatel Wireless is listed on NASDAQ: NVTL. For more information please visit www.nvtl.com. (NVTLG)

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.

(C) 2014 Novatel Wireless, Inc. All rights reserved. The Novatel Wireless name and logo are trademarks of Novatel Wireless, Inc. Other Company, product or service names mentioned herein are the trademarks of their respective owners.

About RacoWireless

RacoWireless (www.racowireless.com) is a leading global provider of wireless data solutions to the machine-to-machine (M2M) industry. The company lives by its mission to ‘make it easy’ by providing support for companies to build, manage and enhance wireless M2M solutions. Among its numerous awards, RacoWireless has been recognized as leader in wireless innovation and entrepreneurship. Visit www.racowireless.com for more information.

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