Telit and Thales Announce the Creation of Western IoT Solutions Provider: Telit Cinterion
July 29, 2022
IoT company Telit and Aerospace, Defense, Security & Digital Identity company Thales announced they 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.
The intended transaction establishes California-based Telit Cinterion as a Western provider of IoT solutions, expanding the company’s presence in industrial IoT segments and end markets including payment systems, energy, e-health, and security. Thales' technologies also help the company respond to growing demand for cybersecure IoT solutions in modules and cellular connectivity.
With the transaction expected to close in Q4 2022 — subject to entering a binding share transfer agreement, regulatory approvals, and other customary closing conditions — Thales becomes a shareholder in Telit Cinterion, controlled by asset manager DBAY Advisors and led by Telit CEO Paolo Dal Pino.
Thales’ cellular IoT products business and Telit’s customers and partners will continue to receive supply, support, and service. All relevant parties will receive regular updates throughout the transaction, upon closing, and ensuing integration periods.
To sharpen focus on Industrial IoT, Telit Cinterion plans to spin off and separately manage the automotive IoT unit after the transaction closes.
For more information, visit Telit.