Internet of Things (IoT) company Telit in Irvine plans to buy the cellular IoT products unit of French company Thales. Financial terms were not disclosed.
The intended transaction includes Thales’ portfolio of cellular wireless communication modules, gateways, and data cards, ranging from 4G LTE, LPWAN to 5G, the two companies said in a joint statement today.
The combined company is to be called Telit Cinterion,
“This transaction with Thales is arguably the most impactful one for Telit competitiveness,” Telit CEO Paolo Dal Pino said in the statement.
