Highlights:
* Telit and Thales jointly announce intended transaction whereby Telit incorporates Thales's cellular IoT products business and goes forward under Telit leadership
* Combined company, to be called Telit Cinterion, is a leading western IoT provider, supporting customers with expanded IoT portfolio of products, services, and bundles comprising hardware, software and connectivity solutions
* Telit Cinterion will leverage Thales's expertise in IoT security across SIM technology, modules and connectivity
* Through this intended transaction, Thales will transfer its cellular IoT modules assets to Telit and receive a 25% stake in Telit Cinterion
The intended transaction establishes
With approximately 550 employees across 23 countries, Thales's cellular IoT module business services many of the world's top brands. It generated sales of more than
Thales's cellular IoT products business and Telit's customers and partners will continue to receive the outstanding supply, support and service to which they have been accustomed. All relevant parties will receive regular updates throughout the transaction, upon closing and ensuing integration periods.
To sharpen focus on Industrial IoT, Telit Cinterion plans to spin off the automotive IoT unit after closing.
Deutsche Bank acted as exclusive financial advisor to Thales, and
About Telit
Telit simplifies onboarding of connected 'things' with a portfolio of enterprise-grade wireless communication and positioning modules; cellular MVNO connectivity plans and management services; edge and cloud software, and data orchestration, IoT and Industrial IoT platforms. With over two decades of pioneering IoT innovation experience, Telit delivers award-winning, secure, integrated IoT solutions for many of the world's largest enterprises, OEMs, system integrators and service providers, so they can connect and manage IoT at any scale.
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About Thales
Thales (Euronext Paris: HO) is a global leader in advanced technologies, investing in digital and 'deep tech' innovations - connectivity, big data, artificial intelligence, cybersecurity and quantum technologies - to build a confident future crucial for the development of our societies. The Group provides its customers - businesses, organizations and governments - in the defense, aeronautics, space, transport, and digital identity and security domains with solutions, services and products that help them fulfil their critical role, consideration for the individual being the driving force behind all decisions.
Thales has 81,000 employees in 68 countries. In 2021, the Group generated sales of
Telit, Media Contacts
Telit
+1 919-415-1510
Leslie.Hart@Telit.com
GRC for Telit
+1 949-608-0276
telit@globalresultspr.com
Thales, Analysts/Investors
Bertrand Delcaire
+33 1 57 77 89 02
ir@thalesgroup.com
Thales, Media Relations
+33 (0)6 60 38 48 92
marion.bonnet@thalesgroup.com
Contact
+33 (0)6 60 38 48 92 marion.bonnet@thalesgroup.com
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