Telit Communications PLC (AIM:TCM) agreed to acquire GainSpan Corporation from Opus Capital, In-Q-Tel, Inc. and others for $8 million in cash on February 1, 2017. The purchase price is subject to certain working capital adjustments. GainSpan's 96 employees will be integrated into Telit's short-range business unit. GainSpan is expected to have a negative impact on the adjusted EBITDA by some $4 million in the current financial year. However, GainSpan is expected to make a positive contribution in 2018 and to make both a material financial and operational contribution in the longer term. Simon Bridges and Martin Davison of Canaccord Genuity Limited acted as nominated financial advisors and joint brokers for Telit Communications. Chris Bowman and Ben Wright of Berenberg acted as joint brokers for Telit Communications. Adrian Duffield and Chantal Woolcock of Instinctif Partners acted as public relations advisors for Telit Communications.