Telit Acquires Novatel Products to Enhance Cellular Module Security
Published2016.04.19 12:13Telit (CEO Derek Sang, www.telit.com), a company specializing in IoT modules and platform services, announced on the 19th that it has agreed to acquire part of the IP and cellular module product lines and related assets of IoT specialist Novatel Wireless for $11 million (approximately 12.6 billion KRW).
Through this acquisition, Telit acquired specific IP from Novatel and obtained an exclusive license for Novatel IP related to the cellular module line, including versions currently under development. Telit assessed that this will strengthen its products and provide it with a strategic competitive edge in the security market.
Telit CEO Oozi Cats said, “Through the strategic acquisition of Novatel, Telit, a leader in the LTE CAT market, expects to gain significant competitiveness in its products not only in the security sector but also in its own R&D.”
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