Telit and Thales announce the creation of the leading provider of IoT solutions in the West: Telit Cinterion Telit and Thales jointly announced a proposed transaction in which Telit incorporates Thales’ cellular IoT products and continues under Telit’s leadership The combined company, which will be called Telit Centurion, is a leading Western IoT provider and supports customers with an expanded IoT portfolio of products, services and packages that include hardware, software and connectivity solutions. Telit Centurion to leverage Thales’ IoT security expertise across SIM technology, modules and connectivity Through this proposed transaction, Thales will transfer its mobile IoT module assets to Telit and acquire a 25% stake in Telit Centurion. Telit, a global leader in the Internet of Things (IoT), and Thales (Euronext Paris: HO), a global leader in aerospace, defense, security and digital identity, today jointly announced that they have entered into an agreement in which Telit aims to acquire mobile IoT products from Thales. The intended transaction includes Thales’ portfolio of mobile wireless communication modules, gateways and data cards (modems) from 4G LTE, LPWAN to 5G. The proposed transaction establishes California-based Telit Centurion as a leading Western provider of IoT solutions and expands the company’s presence in growing segments of the IoT industry and end markets, including payment systems, energy, e-health and security. With cutting-edge technologies, Thales also improves the company’s ability to expertly respond to the growing demand for cyber-secure IoT solutions in cellular modules and connections. Paolo Dal Pino, CEO of Telit, said: “Innovation, scaling and effective IoT solutions are critical to success. This transaction with Thales may be the most important for Telit’s competition. While this will improve our ability to respond more precisely to the needs of customers from a richer portfolio, it will also allow us to deliver all new offerings derived from the experience, expertise and DNA of two companies that have made safety and quality part of their brand promise. from the beginning.” Philippe Vallee, Thales EVP for Digital Identity and Security, added: “The combination of Thales and Telit brings together complementary strengths. The company will provide a unique value proposition in the highly competitive global IoT market and will allow Thales to focus its investments on the three core activities of aerospace, defense and security and digital identity and security.” . “The new combination will build on the unique skill sets brought by Thales and Telit employees. It will also benefit from leveraging both companies’ strong and complementary product portfolios and Thales’ experience in mobile connectivity. With approximately 550 employees in 23 countries, Thales’ cellular IoT module division serves many of the world’s leading markets. In 2021, it generated a turnover of more than 300 million euros. With the transaction expected to close in Q4 2022, Thales will become a shareholder in Telit Centurion, controlled by asset manager DBAY Advisors and led by Telit CEO Paolo Dale, subject to the execution of a binding share transfer agreement, regulatory approval and other customary closing conditions. Pino. Thales’ mobile IoT business and Telit’s customers and partners will continue to receive the exceptional offering, support and service they expect. All related parties will receive regular updates throughout the transaction, at closing and after the integration phases. To further focus on industrial IoT, Telit Centurion plans to spin off and manage the automotive IoT unit separately after the closing. Deutsche Bank acted as exclusive financial advisor to Thales and Rothschild & Co as exclusive financial advisor to Telit, DBAY Advisors.