Telit acquires IP, mobile module products from Novatel

Monday 11 April 2016 | 09:05 CET | News
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Telit Communications agreed to acquire several cellular module product lines, related IP and related assets from Novatel Wireless, for an initial cash purchase price of USD 11 million and conditional earn-out consideration, which Telit expects to be non-material.  As part of the acquisition, Telit acquired specific IP and was granted an exclusive licence to other Novatel IP related to the acquired cellular module lines, including subsequent versions currently in development. Whilst this forms an important part of the Group's strategy to enhance its product offering in the security market

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Categories: Internet / Mobile & Wireless
Companies: Novatel Wireless / Telit Communications
Countries: World
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