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General

Telit sells automotive division for USD 105 mln to China's TUS

Friday 13 July 2018 | 08:56 CET | News
Telit Communications has announced the sale of its automotive division for USD 105 million for USD 105 million, subject to certain adjustments and an overall cap of USD 125 million. The sale, to China's TUS International, is expected to complete by the end of the year, subject to the usual conditions. The division generated 2017 unaudited revenues of USD 63.2 million, and an adjusted EBITDA of USD 10.1 million. 

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Categories: General
Companies: Telit Communications
Countries: World
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