Orbic North America enters agreement to acquire equity ownership in Sonim

Orbic North America has entered into an agreement in principle with AJP Holding Company to acquire from AJP a substantial position in the shares of Sonim (SONM) Technologies. 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.