August 10, 2022

 

  • Telit and Thales jointly announce meant transaction whereby Telit incorporates Thales’s cellular IoT solutions business and goes ahead underneath Telit leadership
  • Blended corporation, to be known as Telit Cinterion, is a main western IoT service provider, supporting clients with expanded IoT portfolio of items, services, and bundles comprising components, application and connectivity alternatives
  • Telit Cinterion will leverage Thales’s knowledge in IoT stability across SIM technological know-how, modules and connectivity
  • By way of this intended transaction, Thales will transfer its cellular IoT modules assets to Telit and obtain a 25% stake in Telit Cinterion

 
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Irvine, Calif., July 29, 2022 – Telit, a global leader in the Net of Items (IoT), and Thales (Euronext Paris: HO), a worldwide chief in Aerospace, Defence and Digital Identification & Safety, currently jointly announced they have entered into a binding settlement beneath which Telit intends to get Thales’s cellular IoT products and solutions. The supposed transaction includes Thales’s portfolio of cellular wi-fi communication modules, gateways, and info (modem) cards, ranging from 4G LTE, LPWAN to 5G.

The intended transaction establishes California-based Telit Cinterion as a main Western supplier of IoT methods, increasing the company’s presence in increasing industrial IoT segments and end marketplaces which includes payment devices, strength, e-health and protection. It also enhances the company’s skill to reply additional expertly to escalating demand for cybersecure IoT options in modules and cellular connectivity, thanks to main technologies from Thales.

Paolo Dal Pino, Telit’s CEO, remarked: “Innovation, scale and productive IoT methods are critical for achievement. This transaction with Thales is arguably the most impactful 1 for Telit competitiveness. Even though it will boost our capacity to tackle customer needs a lot more exactly from a richer portfolio, it will also help us to supply all new offerings derived from the experience, abilities and the DNA of two providers that have designed security and top quality section of their manufacturer assure from the extremely beginning.”

Philippe Vallée, Thales’s EVP Digital Identification and Stability, extra: “The Thales and Telit mixture provides jointly complementary strengths. The organization will offer a exceptional value proposition in a highly aggressive world wide IoT market and will allow for Thales to emphasis its investments on its 3 core pursuits in aerospace, defence and security and digital identification and security. The new mixture will count on a special set of experience brought by Thales and Telit workforce. It will also profit from leveraging both companies’ sturdy and complementary product portfolio and Thales’s knowledge in cellular connectivity.”

With close to 550 staff members across 23 nations around the world, Thales’s mobile IoT module organization companies a lot of of the world’s leading brands. It created revenue of more than €300 million in 2021. The intended transaction will be submitted to the appropriate Thales performs councils. With the transaction predicted to close in Q4 2022, matter to coming into a binding share transfer settlement, regulatory approvals and other customary closing ailments, Thales becomes a shareholder in Telit Cinterion, controlled by asset manager DBAY Advisors and led by Telit CEO Paolo Dal Pino.

Thales’s mobile IoT goods enterprise and Telit’s buyers and partners will carry on to receive the remarkable provide, help and services to which they have been accustomed. All applicable functions will get frequent updates throughout the transaction, on closing and ensuing integration periods.

To sharpen concentration on Industrial IoT, Telit Cinterion plans to spin off the automotive IoT device soon after closing.

Deutsche Lender acted as exceptional fiscal advisor to Thales, and Rothschild & Co as exceptional money advisor to Telit, DBAY Advisors.

About Telit

Telit simplifies onboarding of connected ‘things’ with a portfolio of business-quality wireless communication and positioning modules cellular MVNO connectivity options and management expert services edge and cloud software, and facts orchestration, IoT and Industrial IoT platforms. With above two many years of groundbreaking IoT innovation working experience, Telit delivers award-profitable, secure, built-in IoT remedies for quite a few of the world’s largest enterprises, OEMs, technique integrators and service vendors, so they can hook up and control IoT at any scale.

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About Thales

Thales (Euronext Paris: HO) is a world wide leader in sophisticated systems, investing in digital and “deep tech” improvements – connectivity, huge knowledge, artificial intelligence, cybersecurity and quantum systems – to construct a self-assured future critical for the improvement of our societies. The Group offers its buyers – enterprises, businesses and governments – in the protection, aeronautics, place, transport, and digital id and security domains with answers, solutions and products that support them fulfil their significant purpose, thing to consider for the particular person getting the driving force at the rear of all selections.

Thales has 81,000 workforce in 68 international locations. In 2021, the Team created gross sales of €16.2 billion.

Telit, Media Contacts

Leslie Hart

Telit

+1 919-415-1510

[email protected]

Lora Wilson

Valerie Christopherson

GRC for Telit

+1 949-608-0276

[email protected]

 

Thales, Analysts/Investors

Bertrand Delcaire

+33 1 57 77 89 02

[email protected]

 

Thales, Media Relations

Marion Bonnet

+33 ()6 60 38 48 92

[email protected]

Thales Team