In July 2022, Telit and Thales agreed that the latter will take a 25% stake in the expanded Telit business
IoT module maker Telit announced the conclusion of its acquisition of the cellular IoT unit of French aerospace, defense and security company Thales, the former said in a statement.
The transaction includes Thales’s portfolio of cellular wireless communication modules, gateways, data cards ranging from 4G LTE and LPWAN to 5G, and IoT platform services.
“The transaction and integration, originally announced and begun July 29, 2022, expands the company’s presence in growing industrial IoT segments and end markets. With the integration now nearly complete, we stand ready to respond to the growing demand for cybersecure IoT solutions, modules, IoT platform services and cellular connectivity,” Telit said.
In July 2022, Telit and Thales agreed that the latter would take a 25% stake in the expanded Telit business, headquartered in California, which was rebranded as Telit Cinterion. Telit’s automotive IoT division will be spun off of the new Telit Cinterion.
The combined entity, Telit Cinterion, will be a “leading Western” power for IoT modules, the two companies had said. “Telit Cinterion will leverage Thales’ expertise in IoT security across SIM technology, modules, and connectivity,” the firms added. “The transaction establishes 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 cyber-secure IoT solutions in modules and cellular connectivity, thanks to leading technologies from Thales.”
