Telit grows its Bluetooth assets through acquisition

Telit grows its Bluetooth assets through acquisition

Business news |
By eeNews Europe

The acquired assets include Stollmann’s Bluetooth IP, NFC and other wireless communications IP. Thirty-five Stollmann employees, mainly R&D engineers, are also being transferred to Telit.

The acquisition will materially enhance Telit’s short-range low-power Bluetooth product offering and is another step in the Group’s strategy to provide a comprehensive solution to connect edge devices, such as sensors, to the Telit IoT enablement platform.

According to MarketsandMarkets estimates, the global BLE and “Smart-Ready” market will be worth $5.6bn by 2020. BLE shipments are expected to surpass 1.2 billion units in five years, up from just 49 million units in 2013.

Telit’s Chief Executive, Oozi Cats sees the newly acquired IP as key in the execution of the company’s IoT vision as Bluetooth Smart is one of the IoT’s fastest expanding wireless technology areas.

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