SAN DIEGO, Oct. 9, 2014 (GLOBE NEWSWIRE) -- Novatel Wireless, Inc. (Nasdaq:NVTL), a leader in solutions for the Internet of Things (IoT), will change its NASDAQ ticker symbol to "MIFI" – effective at the start of trading on October 15, 2014. The company will continue to operate as Novatel Wireless, Inc.
The new ticker symbol emphasizes the company's market position and ownership of the MiFi® brand, as well as the ongoing steps of the Company's new management team to restructure the business with an expanding technology portfolio and broadened corporate vision.
Global demand for MiFi technology across mobile computing and IoT is accelerating, providing the company with an ongoing opportunity to leverage its patented platform into new revenue streams within consumer, enterprise and vertical segments.
"The symbol change reinforces our brand ownership in the market place and demonstrates our commitment to transformation," states Alex Mashinsky, Interim CEO of Novatel Wireless, Inc. "The new ticker, 'MIFI,' will be more recognizable for shareholders and other investors, and it reflects the growing integration of our solutions-centric approach with our award-wining MiFi technology at the heart of it."
As of October 15, 2014, all stock trading, filings and market related information will be reported under the new symbol "MIFI." Outstanding stock certificates are not affected by the ticker symbol change and will not need to be exchanged.
About Novatel Wireless
Novatel Wireless, Inc. (Nasdaq:NVTL) is a leader in the design and development of M2M wireless solutions based on 2G, 3G and 4G technologies. The Company delivers Internet of Things (IoT) and Cloud SAAS services to carriers, distributors, retailers, OEMs and vertical markets worldwide. Product lines include MiFi® Intelligent Mobile Hotspots, USB modems, Expedite® and Enabler embedded modules, Mobile Tracking Solutions, and Asset Tracking Solutions. These innovative products provide anywhere, anytime communications solutions for consumers and enterprises. Novatel Wireless is headquartered in San Diego, California. http://www.nvtl.com. @MiFi Twitter
MiFi is a registered trademark of Novatel Wireless, Inc. – the creators and patent holders of MiFi Intelligent Mobile Hotspots.
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.
Source:Novatel Wireless, Inc.