Novatel Wireless, which has been working for years to make itself profitable, most lately by acquiring and selling business units, said on Nov. 3 that it is changing its name to Inseego Corp.
The company plans to change its stock ticker symbol to INSG on Nov. 9.
The new name reflects the pending sale of its MiFi business to TCL Industries Holdings. The company’s current stock symbol is MIFI.
Going forward, the company said it will be a pure-play Internet of Things solutions provider, as a holding company for recent acquisitions Ctrack and FW, as well as the remaining Novatel Wireless business.
The business also released quarterly financial results. Revenue increased 12 percent compared to the same quarter one year ago.
In the just-completed third quarter, net loss was $18.6 million on revenue of $60.9 million. In the third quarter of 2015, net loss was $20.8 million on revenue of $54.3 million.
The business said it expects revenue of $58 million to $63 million in the last quarter of the year.