Telit and Thales (Euronext Paris: HO) have entered into an agreement wherein Telit intends to acquire Thales’ cellular IoT products.
The intended transaction includes Thales’ portfolio of cellular wireless communication modules, gateways, and data (modem) cards, ranging from 4G LTE, LPWAN to 5G.
The intended transaction establishes California-based Telit Cinterion as a leading, Western provider of IoT solutions and expands the company’s presence in growing, industrial, IoT segments and end markets that include payment systems, energy, e-health, and security.
This move also enhances the company’s ability to respond more expertly to the growing demand for cybersecure IoT solutions in modules and cellular connectivity, thanks to the leading technologies from Thales.