Sonim Technologies, Inc. has announced that it has entered into an asset purchase agreement with Pace Car Acquisition LLC. Under this agreement, Pace Car Acquisition LLC will acquire substantially all assets of Sonim and its subsidiaries related to the company's enterprise 5G solutions business. This includes rugged handsets, smartphones, wireless internet devices, software, services, and accessories. Social Mobile Technology Holdings LLC, as the parent, is guaranteeing the complete payment and performance obligations of the buyer. The agreement also allows Sonim to explore a reverse merger with a complementary target as part of their strategic considerations.
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