Telit Wireless Solutions has completed its acquisition of Motorola Solutions’ M2M modules business unit and the latter’s associated employees have joined the former.
All existing Telit and Motorola products will be maintained and available as originally planned by the separate entities. Telit will continue to support and develop all products as needed, including the G24 family, G24-Light, G30 and C24.
The acquisition brings Telit’s consolidated pro forma revenues to approximately $180 million for the year ended 31 December 2010. This is equivalent to a pro forma market share of approximately 20% based on the current market analysis by Beecham Research.
The transaction has a value of $23,0 million. An additional $3,0 million will be spent on inventory in relation to the newly acquired product line over the coming months. Telit financed the transaction by placing approximately 24 million new shares to raise £19,0 million (before expenses). Currently Telit is in the final stage of transferring all Motorola M2M activities to the global Telit organisation. The Telit infrastructure will assume logistical and technical support of all clients without delay.
SealTron to distribute Telit modules in KZN
Telit also announced a new partnership with SealTron. The distributor has, since January this year, been providing all of Telit’s modules in KwaZulu-Natal. Telit believes that its customers will benefit from personal services and SealTron’s technology knowhow.
“We have been searching for a while to find the right distributor for us,” says Pieter Lentz, Telit’s regional sales director for Sub-Sahara Africa, Australia and New Zealand. “SealTron was our partner of choice as it is a highly reliable and well-known distributor. We are very pleased to establish what promises to be a strong and fruitful partnership with them.”
Telit’s strategy for South Africa includes a strong regional approach for the key provinces KwaZulu-Natal, Gauteng and Western Cape. This includes the appointment of new distributors in every region, providing its customers with more personalised services, swift responses and extensive support.
For more information contact Pieter Lentz, Telit Wireless Solutions, +27 (0)11 367 0607, [email protected], www.telit.com
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