Telit buys cellular product lines and related IP from Novatel Wireless

Telit Communications has acquired several cellular module product lines, related IP and related assets from Novatel Wireless for an initial cash purchase price of $11 million and conditional earn-out consideration, which Telit expects to be non-material (the “Acquisition”).

As part of the acquisition, Telit acquired specific IP and was granted an exclusive licence to other Novatel IP related to the acquired cellular module lines, including subsequent versions currently in development...Read more

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