Telit acquires IP and cellular module products from Novatel Wireless

Telit Communications PLC, a global enabler of the internet of things (IoT), has agreed to acquire several cellular module product lines, related intellectual property (IP) and related assets from Novatel Wireless, Inc., for an initial cash purchase price of $11 million and conditional earn-out consideration, which Telit expects to be non-material.

Novatel Wireless is not associated with GNSS receiver maker NovAtel.

The Telit portfolio includes integrated products and services for end-to-end IoT deployments — including GNSS, cellular communication modules, short-to-long range wireless modules, IoT connectivity plans and IoT platform services.

As part of the acquisition, Telit acquired specific IP and was granted an exclusive license to other Novatel IP related to the acquired cellular module lines, including subsequent versions in development.

The acquisition is not expected to have a material impact on the Group’s financial performance.

“The acquisition of these products and associated IP strengthens Telit’s position in the security market segment, a segment that is expected to be an early adopter of LTE Cat1. The acquisition is part of our strategy to enhance our product offering by both acquisition and our own R&D,” said Oozi Cats, Telit’s chief executive.