Sonim Technologies, Inc. (NASDAQ: SONM) has announced the signing of a Letter of Intent (LOI) with Social Mobile® for the potential acquisition of substantially all of Sonim's assets. The proposed transaction, valued at up to $20 million, includes up to $5 million in earn-out consideration contingent on achieving specific revenue targets. The LOI provides Social Mobile with an exclusivity period to negotiate and finalize the transaction. The Special Committee of Sonim's Board of Directors has determined that this transaction represents a strategic opportunity to maximize stockholder value. The combination is expected to strengthen the capabilities of both companies, enhancing their ability to serve clients effectively.
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