Telit and Thales Announce the Creation of the Leading Western IoT Solutions Provider: Telit Cinterion

Telit, a global leader in the Internet of Things (IoT), and Thales (Euronext Paris: HO), a global leader in Aerospace, Defense, Security & Digital Identity, today jointly announced they have entered into an agreement under which Telit intends to acquire Thales’ cellular IoT products.

• Telit and Thales jointly announce intended transaction whereby Telit incorporates Thales’ cellular IoT products business and goes forward under Telit leadership
• Combined company, to be called Telit Cinterion, is leading Western IoT provider, supporting customers with expanded IoT portfolio of products, services, and bundles comprising hardware, software, and connectivity solutions
• Telit Cinterion will leverage Thales’ expertise in IoT security across SIM technology, modules, and connectivity
• Through this intended transaction, Thales will transfer its cellular IoT modules assets to Telit and receive a 25% stake in Telit Cinterion

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, expanding the company’s presence in growing industrial IoT segments and end markets including payment systems, energy, e-health, and security. It also enhances the company’s ability to respond more expertly to growing demand for cybersecure IoT solutions in modules and cellular connectivity, thanks to leading technologies from Thales.

www.telit.com

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