November 9, 2010 (FinancialWire) (http://www.financialwire.net/) — Novatel Wireless, Inc. (NASDAQ: NVTL), a provider of wireless broadband solutions, said it has entered into a definitive agreement to acquire Enfora, Inc. for around $64.5 million in cash at closing.

Novatel said that possible additional consideration of up to $6 million is contingent on certain performance targets being met.

Texas-based Enfora is a privately-held provider of intelligent asset-management solutions utilizing wireless technology and machine-to-machine communications.

Enfora posted revenues of $61.3 million during the 12 month period ended September 30, 2010, with gross margins of around 36 percent.

Novatel said it expects the acquisition to be immediately accretive to its non-GAAP earnings.  

California-based Novatel Wireless is engaged in the design and development of wireless broadband access solutions based on 3G and 4G wireless technologies.  

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