SAN DIEGO, June 16, 2015 (GLOBE NEWSWIRE) -- Novatel Wireless, Inc., (Nasdaq:MIFI), a leading provider of wireless solutions for the Internet of Things, today announced that the company is set to join the Russell 2000®, the Russell 3000®, and the Russell Global Index at the conclusion of the Russell indexes annual reconstitution on June 26, according to a preliminary list of additions posted June 12 on the Russell Investments website, http://www.russell.com/indexes.
Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. Membership in the Russell Global Index, which remains in place for one year, means automatic inclusion in the appropriate large-cap, small-cap, all-cap indexes as well as the applicable style, sector and country indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
"Inclusion in the Russell indexes is a significant milestone for us as we continue to execute our turnaround and growth strategy," said Alex Mashinsky, CEO of Novatel Wireless. "Our simultaneous addition to the broadly followed Russell Indexes is a reflection of our commitment to becoming the number one solutions provider that simplifies the Internet of Things. We expect our presence in these indexes will expose Novatel Wireless to a wider range of institutions and investors, allowing us to broaden our shareholder base and enhance our overall value."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $5.7 trillion in assets are benchmarked to the Russell's U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 1000 and the Russell reconstitution, go to "Recon Central" section on the FTSE Russell website.
About FTSE Russell
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 80 countries, covering 98% of the investable market globally and trading on over 25 exchanges worldwide.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Leading asset owners, asset managers, ETF providers and investment banks use FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance. FTSE Russell is also focused on index innovation and client collaboration as it seeks to enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit www.ftserussell.com.
About Novatel Wireless
Novatel Wireless, Inc. (Nasdaq:MIFI) is a leader in the design and development of M2M wireless solutions based on 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 technology.
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 owning our stock, including stock price volatility and liquidity risks as well as underlying business factors that can affect our stock price. 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.
CONTACT: Investor Relations Contact: Michael Sklansky (858) 431-0792 firstname.lastname@example.org
Source:Novatel Wireless, Inc.