Telit acquires Thales’ cellular IoT products
IoT specialist Telit, and Thales have entered into an agreement under which 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.
With the transaction, Telit establishes California-based Telit Cinterion, expanding the company’s presence in growing industrial IoT segments and end markets including payment systems, energy, e-health, and security. At the same time, the transaction enhances the company’s ability to respond more expertly to growing demand for cybersecure IoT solutions in modules and cellular connectivity.
“Innovation, scale and efficient IoT solutions are key for success. This transaction with Thales is arguably the most impactful one for Telit competitiveness. While it will boost our ability to address customer needs more precisely from a richer portfolio, it will also enable us to deliver all new offerings derived from the experience, expertise, and the DNA of two companies that have made security and quality part of their brand promise from the very beginning,” says Paolo Dal Pino, Telit’s CEO, in a press release.
Thales’ cellular IoT module business, with approximately 550 employees across 23 countries, generated sales of more than EUR 300 million in 2021. The transaction expected to close in Q4 2022.