Feature
- Kontron will acquire Telit Cinterion’s complete range of car wireless communication modules.
- The agreement needs the regulatory agencies and pertinent workers’ councils to approve it.
- Kontron and Telit Cinterion ensure uninterrupted supply, support, and service for their clients and partners.
Kontron AG and Telit Cinterion , prominent IoT solution provider and global IoT leader, have announced a significant collaboration in smart solutions and IT services. By revolutionizing the industry through the sale of its cellular automotive IoT product business to Kontron, Telit Cinterion will not only strengthen its position as a top supplier of secure IoT solutions but also significantly increase its market share in vital industrial IoT sectors and markets such as energy, telematics, e-health, broadband, and security & surveillance.
A Comprehensive Range of Cellular Automotive Wireless Communication Modules
Kontron will acquire Telit Cinterion’s complete range of car wireless communication modules, spanning from 4G LTE to 5G, as per the agreement. Through this purchase, Kontron can better serve its clients and expand the scope of its product offerings.
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Kontron: A Global Technology Provider
Kontron, headquartered in California, supplies top companies worldwide and employs around 4,500 people across 21 countries. In 2022 the firm recorded revenues of EUR 1,342 million, demonstrating its significant market position.
Transaction Details and Expected Timeline
The agreement needs the regulatory agencies and pertinent workers’ councils to approve it. Subject to fulfillment of customary closing conditions and regulatory clearances, the deal should close in Q3 2023.
Continued Commitment to Customers and Partners
Kontron AG and Telit Cinterion ensure uninterrupted supply, support, and service for their clients and partners. They will send updates to all relevant parties throughout the transaction’s closure and the subsequent integration phase.
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A New Chapter for Telit Cinterion and Kontron
This partnership between Telit Cinterion and Kontron in the IoT sector represents a significant turning point. The choice made by Telit Cinterion to concentrate on its core cybersecurity IoT solutions further solidifies its position as a top supplier, and Kontron’s purchase will increase its capabilities in the cellular automotive IoT market. The alliance is expected to foster innovation and open new prospects in the rapidly changing IoT technology market.
