Motorola acquisition enhances Telit’s presence in m2m market
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Telit Wireless Solutions and Motorola Solutions have signed an agreement in which Telit will acquire the latter's machine to machine (m2m) modules line of products and its associated employees. The sale is subject to customary closing and regulatory approvals.
According to Telit, the acquisition would bring consolidated pro forma revenues to approximately $180million for the year ended 31 December 2010.
The acquisition would bring Telit's consolidated pro forma revenues to approximately $180 million for the year ended 31 December 2010. This is equivalent to a pro forma market share of approximately 20% based on the current market analysis by Beecham Research *.
Telit's ceo, Oozi Cats, pictured, said the acquisition will enable the company to expand into the growing m2m market. "We are confident that the combination will generate cost synergies and new opportunities for cross selling of products and increased customer account development," he said. "Moreover, our company, as well as our customers will profit from enhanced research and development capabilities, a broadening of Telit's m2m product offering and the enhancement of m2m modules' products through Telit's commitment to long term product development and support."
Motorola Solutions will continue to focus its resources on mission and business critical communication solutions for government, public safety and enterprise customers.
