Kontron to buy cellular automotive IoT module assets from Telit Cinterion for €24.5m
Kontron is to buy the assets of Telit Cinterion’s Cellular Automotive Module Unit to boost its Internet of Things (IoT) offerings.
Kontron’s asset deal with Telit Cinterion in Irvine, California, which Telit bought from Thales last year, is worth €24.5m. The assets of the module unit achieved revenues of slightly above €100m in 2022.
The unit will be integrated into Kontron Europe GmbH, a subsidiary of Kontron AG when the deal closes in August.
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Kontron sees the acquisition as an opportunity to enhance its product portfolio and to bolster internal engineering capacities, while preparing for the increasing demand for advanced 4G/5G solutions. It aims to integrate the Telit Cinterion module technology into its own IoT software portfolio.
“The acquisition marks another milestone in Kontron’s journey towards becoming a global leader in IoT solutions. Telit Cinterion’s world-class products seamlessly complement our existing technologies built on 5G and real-time standards for the automotive industry,” said Hannes Niederhauser, CEO Kontron AG. “This strategic move solidifies our commitment to delivering exceptional IoT solutions to our customers and propels us towards the forefront of innovation. With our expanded portfolio, we will drive transformative change, leverage emerging technologies, and create a seamless IoT ecosystem that empowers industries worldwide.”
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This transaction aligns with Kontron’s strategy of replacing revenues generated from its recently sold IT services business with strategic IoT acquisitions.
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