Generate cost synergies and new opportunities for cross-selling of products
Telit Wireless Solutions, a provider of wireless machine-to-machine (M2M) technology and a subsidiary of Telit Communications, has signed a definitive agreement to purchase Motorola Solutions M2M modules line of producs.
This acquisition will allow Telit Wireless to further expand its operation in M2M market; and the combination of technology will generate cost synergies and new opportunities for cross-selling of products.
Telit Wireless said that the acquision will increase its consolidated pro forma revenues to approximately $180 million for the year ended December 31, 2010.
Telit CEO Oozi Cats said the company and their 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.