Sonim Technologies to Be Acquired by Social Mobile
Sonim Technologies (NASDAQ: SONM) has entered into a definitive agreement to be acquired by Social Mobile in an all-cash transaction valued at $20 million, which includes a $5 million potential earn-out. The acquisition aims to expand Social Mobile's presence in the purpose-built enterprise mobility market by leveraging Sonim's expertise in mission-critical mobile solutions.
The transaction, approved by Sonim's Board of Directors, is expected to close in Q4 2025, subject to shareholder and regulatory approvals. The deal will combine Social Mobile's resources and enterprise mobility expertise with Sonim's foundation to enhance product portfolios and service capabilities.
Sonim Technologies (NASDAQ: SONM) ha firmato un accordo definitivo per essere acquisita da Social Mobile in un'operazione interamente in contanti del valore di 20 milioni di dollari, che include un potenziale earn-out di 5 milioni di dollari. L'acquisizione mira a espandere la presenza di Social Mobile nel mercato della mobilità aziendale specializzata, sfruttando l'esperienza di Sonim nelle soluzioni mobili mission-critical.
La transazione, approvata dal Consiglio di Amministrazione di Sonim, dovrebbe concludersi nel quarto trimestre del 2025, subordinatamente all'approvazione degli azionisti e degli enti regolatori. L'accordo unirà le risorse e l'expertise di Social Mobile nella mobilità aziendale con le solide basi di Sonim per migliorare i portafogli prodotti e le capacità di servizio.
Sonim Technologies (NASDAQ: SONM) ha firmado un acuerdo definitivo para ser adquirida por Social Mobile en una transacción totalmente en efectivo valorada en 20 millones de dólares, que incluye un potencial earn-out de 5 millones de dólares. La adquisición tiene como objetivo ampliar la presencia de Social Mobile en el mercado de movilidad empresarial especializada, aprovechando la experiencia de Sonim en soluciones móviles críticas para la misión.
La transacción, aprobada por el Consejo de Administración de Sonim, se espera que se cierre en el cuarto trimestre de 2025, sujeto a la aprobación de los accionistas y reguladores. El acuerdo combinará los recursos y la experiencia en movilidad empresarial de Social Mobile con la base de Sonim para mejorar las carteras de productos y capacidades de servicio.
Sonim Technologies (NASDAQ: SONM)는 2천만 달러 규모의 전액 현금 거래로 Social Mobile에 인수되기 위한 최종 계약을 체결했으며, 이 중에는 500만 달러의 잠재적 추가 수익(earn-out)이 포함되어 있습니다. 이번 인수는 Sonim의 미션 크리티컬 모바일 솔루션 전문성을 활용하여 Social Mobile의 특수 목적 기업용 모빌리티 시장 내 입지를 확대하는 것을 목표로 합니다.
Sonim 이사회에서 승인한 이번 거래는 주주 및 규제 당국의 승인을 조건으로 2025년 4분기에 완료될 예정입니다. 이번 거래를 통해 Social Mobile의 자원과 기업용 모빌리티 전문 지식이 Sonim의 기반과 결합되어 제품 포트폴리오와 서비스 역량이 강화될 것입니다.
Sonim Technologies (NASDAQ : SONM) a conclu un accord définitif pour être acquise par Social Mobile dans le cadre d'une transaction entièrement en espèces d'une valeur de 20 millions de dollars, incluant un earn-out potentiel de 5 millions de dollars. Cette acquisition vise à renforcer la présence de Social Mobile sur le marché de la mobilité d'entreprise spécialisée en s'appuyant sur l'expertise de Sonim dans les solutions mobiles critiques.
La transaction, approuvée par le conseil d'administration de Sonim, devrait se finaliser au quatrième trimestre 2025, sous réserve des approbations des actionnaires et des autorités réglementaires. L'accord combinera les ressources et l'expertise en mobilité d'entreprise de Social Mobile avec les bases de Sonim pour améliorer les portefeuilles de produits et les capacités de service.
Sonim Technologies (NASDAQ: SONM) hat eine endgültige Vereinbarung getroffen, um von Social Mobile in einer vollständig bar bezahlten Transaktion im Wert von 20 Millionen US-Dollar übernommen zu werden, die eine potenzielle Earn-out-Zahlung von 5 Millionen US-Dollar beinhaltet. Die Übernahme zielt darauf ab, Social Mobiles Präsenz im spezialisierten Enterprise-Mobility-Markt durch die Nutzung von Sonims Expertise in mission-kritischen mobilen Lösungen auszubauen.
Die Transaktion, die vom Vorstand von Sonim genehmigt wurde, soll im vierten Quartal 2025 abgeschlossen werden, vorbehaltlich der Zustimmung der Aktionäre und der Aufsichtsbehörden. Der Deal wird die Ressourcen und Enterprise-Mobility-Expertise von Social Mobile mit Sonims Basis kombinieren, um Produktportfolios und Servicefähigkeiten zu verbessern.
- None.
- Sonim selling substantially all assets and current liabilities
- Transaction subject to shareholder and regulatory approval risks
- Uncertainty around earn-out achievement conditions
Insights
Sonim's $20M acquisition by Social Mobile provides shareholder exit with modest valuation at likely minimal premium.
The $20 million acquisition of Sonim Technologies by Social Mobile represents a strategic exit for Sonim shareholders in what appears to be a necessity-driven transaction. The deal structure—$15 million upfront with a $5 million earn-out—suggests Social Mobile has negotiated favorable terms, with a quarter of the consideration contingent on future performance.
This transaction is primarily an asset purchase rather than a complete company acquisition, as it specifically includes "assets and substantially all current liabilities." This structure typically indicates the buyer is selectively assuming obligations while potentially leaving certain liabilities behind.
The acquisition rationale centers on channel synergies, particularly leveraging Sonim's carrier relationships. For Social Mobile, this represents an efficient market expansion opportunity, acquiring established carrier partnerships rather than building them organically. The complementary product portfolios in rugged enterprise mobility solutions create cross-selling opportunities within existing customer bases.
For Sonim shareholders, the Board's approval signals this was likely the best available option to generate shareholder value, suggesting limited standalone prospects or alternative buyers. The language about "returning value to shareholders" rather than emphasizing premium pricing implies a pragmatic transaction rather than one driven by competitive bidding.
The deal timeline showing closing expected in Q4 2025 with standard conditions including shareholder approval indicates a straightforward acquisition process without anticipated regulatory hurdles, typical for transactions of this size in the mobile technology sector.
Transaction Valued at
Acquisition enhances Social Mobile's enterprise solutions while expanding its sellable addressable market, creating valuable new revenue opportunities within carrier channels
Transaction expected to close during Q4 2025, subject to closing conditions
San Diego, California and Hollywood, Florida--(Newsfile Corp. - July 18, 2025) - Sonim Technologies, Inc. (NASDAQ: SONM) (the "Company") and Social Mobile today announced that they have entered into a definitive agreement under which Social Mobile will acquire the assets and substantially all current liabilities of Sonim Technologies at
(C)2025. Sonim Technologies, Inc.
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This acquisition aligns with Social Mobile's strategy to expand its footprint in the purpose-built enterprise mobility market. Sonim's expertise in mission-critical mobile solutions complements Social Mobile's custom enterprise mobility offerings, creating a powerful synergy to deliver innovative, secure, and scalable solutions for customers worldwide.
The agreement is approved by Sonim's Board of Directors. The transaction is expected to close in Q4 2025, subject to customary closing conditions, including shareholder and regulatory approvals.
Robert Morcos, CEO of Social Mobile said - "We are thrilled about the synergies this acquisition creates and the potential it unlocks for both organizations. By combining Social Mobile's resources and expertise with Sonim's strong foundation, we are well-positioned to grow the brand and deliver even greater value to Sonim's customers. Together, we will expand product portfolios, enhance service capabilities, and drive innovation to meet the evolving needs of our customers and stakeholders."
Mike Mulica, Chair of the Board of Directors and Special Committee at Sonim said - "This acquisition of Sonim's assets by Social Mobile represents a pivotal step in returning value to our shareholders while ensuring the long-term success of Sonim. Social Mobile's strong and favorable reputation among our carrier customers, combined with their proven expertise in enterprise mobility, was a key factor in our decision to move forward with this transaction. Their commitment to supporting and growing the Sonim brand, along with the synergies between our organizations, will enhance our ability to serve customers and create meaningful opportunities for all stakeholders involved."
Roth Capital is serving as financial advisor and Venable, LLC is serving as legal counsel to Sonim Technologies, Inc. Blank Rome, LLP is serving as legal counsel to Social Mobile.
For more information, visit https://www.sonimtech.com/about/news/socialmobile and https://www.socialmobile.com/sonim.
About Sonim Technologies
Sonim Technologies is a leading U.S. provider of rugged mobile solutions, including phones, wireless internet data devices, accessories and software designed to provide extra protection for users that demand more durability in their work and everyday lives. Trusted by first responders, government, and Fortune 500 customers since 1999, we currently sell our ruggedized mobility solutions through tier one wireless carriers and distributors in North America, EMEA, and Australia/New Zealand. Sonim devices and accessories connect users with voice, data, workflow and lifestyle applications that enhance the user experience while providing an extra level of protection. For more information, visit www.sonimtech.com.
About Social Mobile
Social Mobile® is the leading provider of enterprise mobility solutions. We are an IoT design firm that specializes in developing custom devices for the world's biggest companies in all industries, including healthcare, transportation, retail, and defense. As one of Google's validated Android Enterprise Gold partners, we handle every aspect of our clients' mobility needs—from design and deployment to managed services.
With direct partnerships and key suppliers around the world, we've distributed more than 15 million devices globally — on-time and on-budget, every time. We provide full supply-chain visibility, guaranteeing product availability while streamlining operations and lowering the total cost of ownership.
Founded in 2011 by current CEO Robert Morcos, Social Mobile maintains offices, warehouses, and facilities around the world, in addition to its head office in Hollywood, Florida. To learn more about Social Mobile, visit: www.socialmobile.com or follow us on LinkedIn, X, and YouTube.
Media Contacts
Anette Gaven
Sonim Technologies
P: 1-619-993-3058
pr@sonimtech.com
Christian Paul
Social Mobile
marketing@socialmobile.com
Important Information and Where to Find It
This press release may be considered to be a soliciting material in connection with the 2025 Annual Meeting of Stockholders. Sonim has filed with the SEC a definitive proxy statement on Schedule 14A, containing a form of WHITE proxy card, with respect to its solicitation of proxies for the 2025 Annual Meeting of Stockholders.
Sonim's stockholders are strongly encouraged to read Sonim's definitive proxy statement (including any amendments or supplements thereto) and any other documents to be filed with the SEC carefully and in their entirety when they become available because they will contain important information.
Stockholders may obtain a free copy of the definitive proxy statement, any amendments or supplements to the proxy statement, and other documents that Sonim files with the SEC at no charge from the SEC's website at www.sec.gov. Copies will also be available at no charge on Sonim's website at https://ir.sonimtech.com/sec-filings/all-sec-filings.
Additional Information and Where to Find It
This communication relates to the proposed transaction involving Sonim. This communication does not constitute a solicitation of any vote or approval. In connection with the proposed transaction, Sonim plans to file with the SEC a proxy statement (the "Proxy Statement") relating to a special meeting of its stockholders and may file other documents with the SEC relating to the proposed transaction, including a prospectus. This communication is not a substitute for the Proxy Statement or any other document that Sonim may file with the SEC or send to its stockholders in connection with the proposed transaction. Before making any voting decision, stockholders of Sonim are urged to read the Proxy Statement in its entirety when it becomes available and any other relevant documents filed or to be filed with the SEC and any amendments or supplements thereto and any documents incorporated by reference therein, because they will contain important information about the proposed transaction and the parties to the proposed Transaction. Any vote in respect of resolutions to be proposed at a stockholder meeting of Sonim to approve the proposed transaction or related matters, or other responses in relation to the proposed transaction, should be made only on the basis of the information contained in the Proxy Statement. Investors and security holders will be able to obtain the Proxy Statement and other documents Sonim files with the SEC (when available) free of charge at the SEC's website (http://www.sec.gov) or at Sonim's investor relations website (https://ir.sonimtech.com/) or by e-mailing Sonim to ir@sonimtech.com.
Participants in the Solicitation
Sonim and its respective directors, executive officers, and other members of their management and employees, including Peter Liu (Chief Executive Officer and a director), Clay Crolius (Chief Financial Officer), and Sonim's directors-James Cassano, Mike Mulica, Jack Steenstra, and Jeffrey Wang-under SEC rules, may be deemed to be participants in the solicitation of proxies of Sonim's stockholders in connection with the proposed Transaction.
Stockholders may obtain more detailed information regarding Sonim's directors and executive officers, including a description of their direct or indirect interests, by security holdings or otherwise, under the captions "Directors, Executive Officers, and Corporate Governance," "Security Ownership of Certain Beneficial Owners and Management," and "Certain Relationships and Related Party Transactions" of Sonim's definitive proxy statement for the 2025 Annual Meeting filed with the SEC on June 18, 2025.
Any subsequent updates following the date hereof to the information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the Proxy Statement and other materials to be filed with the SEC in connection with the proposed Transaction, if and when they become available. These documents will be available free of charge as described above.
Forward-Looking statements
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements relate to, among other things, the anticipated effects of the proposed transaction and the strategy of Sonim in connection with strategic alternatives, the anticipated terms of the proposed transaction, potential benefits of the proposed transaction to Sonim's stockholders, and anticipated difficulties in connection with certain aspects of Orbic's offer. These forward-looking statements are based on Sonim's current expectations, estimates and projections, and certain assumptions made by Sonim, all of which are subject to change. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "achieve," "aim," "ambitions," "anticipate," "believe," "committed," "continue," "could," "designed," "estimate," "expect," "forecast," "future," "goals," "grow," "guidance," "intend," "likely," "may," "milestone," "objective," "on track," "opportunity," "outlook," "pending," "plan," "poised," "position," "possible," "potential," "predict," "progress," "promises," "roadmap," "seek," "should," "strive," "targets," "to be," "upcoming," "will," "would," and variations of such words and similar expressions or the negative of those terms or expressions. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. Factors that may cause actual results to differ materially include, but are not limited to, the following: the ability of Sonim to meet expectations regarding the timing and completion of the proposed transaction; the possibility that the LOI will not result in the definitive agreement; the possibility that the conditions to the closing of the proposed transaction are not satisfied, including the risk that the required approvals are not obtained, the Sonim Legacy Business Sale does not close, and that Sonim's stockholders do not approve the proposed transaction; the challenges of maintaining Nasdaq listing and the potential necessity to implement a reverse stock-split in order to remain listed on Nasdaq; the occurrence of any event, change or other circumstances that could result in the definitive agreement (if ever executed) being terminated or the proposed transaction not being completed on the terms reflected in the definitive agreement, or at all; potential litigation relating to the proposed transaction; the risk that the proposed transaction and its announcement could have adverse effects on the market price of Sonim's common stock; the risk that the current board of directors of Sonim loses the proxy contest and the new directors' slate determines to terminate the proposed transaction (whether at the state of LOI or definitive agreement); the effect of the announcement of the proposed transaction on the ability of Sonim to retain key personnel and maintain relationships with customers and business partners; the risk of unexpected costs or expenses resulting from the proposed transaction and the LOI; and other risks and uncertainties, including those described under "Risk Factors" included in Sonim's most recent Annual Report on Form 10-K and any subsequent quarterly filings on Form 10-Q filed with the Securities and Exchange Commission (available at www.sec.gov). Sonim cautions you not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Sonim assumes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/259221
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