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Telit Communications considering US IPO

Telit Communications considering US IPO

Machine-to-machine wireless technology specialist Telit Communications (LON:TCM) said it is  considering a potential initial public offering in the United States.

Such an offering will be dependent upon market conditions and would be expected to occur, if at all, in the second half of 2012.
Telit had announced the US$3 million acquisition of Navman OEM Solutions just before Christmas 2011, saying the deal would help it become a “contender” in the growing GPS market.
It was the third deal of the year and followed on from the purchase of Motorola’s machine-to-machine business and the acquisition of connectivity services provider Globalconnect.

Telit Communications
Telit Communications PLC is a global leader in the field of machine-to-machine (m2m) communications. Telit develops, manufactures, markets and sells communication modules which enable machines, devices and vehicles to communicate via cellular and other wireless networks. Telit’s core strengths are innovative products, compete control over its intellectual property and its flexible, customized solutions, which enable it to offer customers the lowest total cost of ownership and a future-proof product roadmap. Telit’s products are sold and deployed worldwide through offices in the US, China, Korea, Taiwan, Denmark, Germany, Great Britain, Italy, Spain, Turkey, Israel, Brazil, and the Republic of South Africa.

Machine-to-machine (m2m) technology established wireless communication between machines and the information centre of a business.The goal of m2m is to enable applications that allow businesses to increase productivity and competitiveness. At the heart of each m2m implementation is a communication module which receives, processes and transmits information via wireless networks.

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