• Telit and Thales announce joint proposed transaction whereby Telit will acquire Thales’ cellular IoT products business and will continue under Telit leadership
  
• The combined company, named Telit Cinterion, is a leading western IoT provider supporting customers with an expanded IoT portfolio of products, services and bundles of hardware, software and connectivity solutions
  
• Telit Cinterion will leverage Thales’ IoT security expertise across SIM technology, modules and connectivity
  
• Through this proposed transaction, Thales will transfer its cellular IoT module assets to Telit and receive a 25% equity interest in Telit Cinterion

IRVINE, California., July 29, 2022 /PRNewswire/ — Telit, a global leader in the Internet of Things (IoT) space, and Thales HO, a global leader in aerospace, defense, security and digital identity, jointly announced today that they have entered into an agreement under which Telit intends to acquire Thales’ cellular IoT products. The proposed transaction includes Thales’ portfolio of cellular wireless communication modules, gateways and data (modem) cards ranging from 4G LTE, LPWAN to 5G.

The intended transaction is established California-based Telit Cinterion, as a leading Western provider of IoT solutions, is expanding the company’s presence in growing industrial IoT segments and end markets, including payment systems, energy, e-health and security. It also improves the company’s ability to better respond to the growing demand for cyber-secure IoT solutions in modules and cellular connectivity thanks to leading Thales technologies.

Paolo Dal Pino, CEO of Telitremarked: “Innovation, scalability and efficient IoT solutions are the key to success. This transaction with Thales is probably the most effective for Telit’s competitiveness. While it will strengthen our ability to address customer needs more precisely from a richer portfolio, it will also enable us to offer all new offerings that stem from the experience, expertise and DNA of two companies that…