Telit Wireless Solutions has completed the acquistion of Motorola Solutions' M2M modules business unit for a total of $23.0 million.
An additional $3 million will be spent on inventory in relation to the newly-acquired product line over the coming months.
As per the pact, all existing Telit and Motorola products will be maintained and available as originally planned by the separate entities.
Telit will continue to support and develop all products as needed, including the G24 family, G24-Light, G30 and C24.
Currently Telit is in the final stage of transferring all Motorola M2M activities to the global Telit organization.
“We found an excellent team of greatly skilled and highly motivated workforce and welcome them to the Telit family. Currently we see a multitude of companies from all vertical industries stepping into the M2M market or expanding their existing M2M businesses,” said Oozi Cats, CEO of Telit, in a statement.
Cats said that the growing organization is well-prepared to support and accelerate this rapid market growth by delivering the cutting-edge technology and premium support needed to create innovative solutions.
Telit Wireless Solutions, a subsidiary of Telit Communications PLC, is a specialist in wireless machine-to-machine (M2M) technology.
Telit claims to be the only company worldwide to offer communications modules for all of the various wireless technologies: it develops, produces and markets modules for GSM/GPRS, UMTS/WEDGE/HSDPA, CDMA and Short-Range RF applications.
IoTevolutionworld in April 2010 reported that Telit Wireless Solutions and Eurocomposant signed a distribution contract. Eurocomposant is a distributor of semi-conductors, displays and embedded products and solutions in France. The company’s main focus is on markets such as transport and logistics, security and digital signage. The newest agreement calls on Eurocomposant to distribute Telit’s M2M solutions and support the module manufacturer in further expanding its position on the French market.
Telit modules are expected to be actively distributed to its existing customers, but it will also target new customers in the embedded market in equal measure. Additionally, Eurocomposant customers are expected to receive access to Telit’s M2M technology as well as they can benefit from the manufacturer’s R&D capacities.
Anil Sharma is a contributing editor for IoTevolutionworld. To read more of his articles, please visit his columnist page.Edited by
Tammy Wolf