12:43 PM EST, 01/15/2025 (MT Newswires) -- Sonim Technologies ( SONM ) investor AJP Holding agreed in principle to sell a "substantial portion" of its Sonim ( SONM ) stake to Orbic North America for an undisclosed price.

Orbic said Wednesday in a statement it will become the largest shareholder of Sonim ( SONM ) after a definitive agreement is signed.

Orbic plans to begin discussions with Sonim ( SONM ) to explore operating and financial synergies, including research and development, supply chain collaboration, and global market expansion across the US, Europe, India and the Asia-Pacific.

Sonim ( SONM ) shares rose 2.6% in recent Wednesday trading, paring earlier gains.

Price: 3.52, Change: +0.09, Percent Change: +2.63