Telit still in acquisition mode as it buys GPS module maker, Navman Wireless OEM for US$3m in cash

Oozi Cats of Telit Oozi Cats of Telit

December 22, 2011 – Telit Communications Plc, a global provider of machine-to-machine (M2M) wireless technology, yesterday entered into a binding agreement to purchase Navman Wireless OEM Solutions, LP, a designer and manufacturer of Global Positioning System (GPS) modules and solutions, for US$3 million in cash. The acquisition of Navman’s technology and its US-based executive engineering and sales staff will make Telit a major contender in the GPS market while providing an enhanced product portfolio for its M2M customers. Navman is expected to generate approximately $7.1 million of revenue and $0.2m of EBITDA in the year to 31 December 2011.

The acquisition of Navman, which follows two other acquisitions in 2011, see earlier reports in M2M Now – the purchase of Motorola Solutions’ M2M business unit and the acquisition of the connectivity services provider Globalconect Ltd – is expected to complete on January 3, 2012.

Oozi Cats (pictured), Chief Executive of Telit, said, “the Navman acquisition provides Telit with access to new GPS customers and products beyond the traditional M2M industry. Navman’s reputation for delivering state-of-the-art GPS technology and the global reach of Telit’s sales and marketing organisation put us in a strong position to benefit from the growth in the GPS sector. In addition, the acquisition strengthens our position as the premier product and consultative partner in the M2M industry by leveraging the synergies of both companies to better serve our global customers.”

George Arnott, VP of Navman’s global OEM solutions, who will be managing the business unit under Telit’s ownership, said: “We are excited about the prospect of working with the Telit team to continue bringing our quality GPS module solutions to the market. With our pioneering GPS engineering background, we are also excited about the possibility of creating new hybrid GPS and wireless M2M innovations for Telit customers.”

According to the “World GPS Market Forecast to 2013” from RNCOS, shipments of GPS devices will grow at a compounded annual growth rate (CAGR) of more than 20% this year through 2013 to reach 900 million units sold generating more than $70 billion in annual revenue.

RECENT ARTICLES

Nordic-powered wireless indoor alert system provides round-the-clock assistance to service users

Posted on: October 6, 2022

Hong Kong-based IoT technology solutions company, SG Wireless, has partnered with the local non-profit charitable organisation Senior Citizen Home Safety Association (SCHSA), to develop the ‘Wireless Personal Emergency Link’ (WPEL). WPEL is an indoor Bluetooth LE/LTE Cat 1 emergency alert system. Installed in the homes of service users, the system is designed to support senior citizens

Read more

DFI and AEWIN partner to empower software virtualisation technology through AMD platform ultra-small products

Posted on: October 6, 2022

DFI, the brand in embedded motherboards and industrial computers, was invited to participate in “AMD Datacentre Solutions Day” in September, based on the theme of high-performance computing (HPC). To launch the smallest industrial motherboard equipped with AMD products, DFI partnered with its subsidiary, AEWIN, to present their star products and share how ultra-small products can

Read more
FEATURED IoT STORIES

The IoT Adoption Boom – Everything You Need to Know

Posted on: September 28, 2022

In an age when we seem to go through technology boom after technology boom, it’s hard to imagine one sticking out. However, IoT adoption, or the Internet of Things adoption, is leading the charge to dominate the next decade’s discussion around business IT. Below, we’ll discuss the current boom, what’s driving it, where it’s going,

Read more

9 IoT applications that will change everything

Posted on: September 1, 2021

Whether you are a future-minded CEO, tech-driven CEO or IT leader, you’ve come across the term IoT before. It’s often used alongside superlatives regarding how it will revolutionize the way you work, play, and live. But is it just another buzzword, or is it the as-promised technological holy grail? The truth is that Internet of

Read more

Which IoT Platform 2021? IoT Now Enterprise Buyers’ Guide

Posted on: August 30, 2021

There are several different parts in a complete IoT solution, all of which must work together to get the result needed, write IoT Now Enterprise Buyers’ Guide – Which IoT Platform 2021? authors Robin Duke-Woolley, the CEO and Bill Ingle, a senior analyst, at Beecham Research. Figure 1 shows these parts and, although not all

Read more

CAT-M1 vs NB-IoT – examining the real differences

Posted on: June 21, 2021

As industry players look to provide the next generation of IoT connectivity, two different standards have emerged under release 13 of 3GPP – CAT-M1 and NB-IoT.

Read more

IoT and home automation: What does the future hold?

Posted on: June 10, 2020

Once a dream, home automation using iot is slowly but steadily becoming a part of daily lives around the world. In fact, it is believed that the global market for smart home automation will reach $40 billion by 2020.

Read more

5 challenges still facing the Internet of Things

Posted on: June 3, 2020

The Internet of Things (IoT) has quickly become a huge part of how people live, communicate and do business. All around the world, web-enabled devices are turning our world into a more switched-on place to live.

Read more

What is IoT?

Posted on: July 7, 2019

What is IoT Data as a new oil IoT connectivity What is IoT video So what’s IoT? The phrase ‘Internet of Things’ (IoT) is officially everywhere. It constantly shows up in my Google news feed, the weekend tech supplements are waxing lyrical about it and the volume of marketing emails I receive advertising ‘smart, connected

Read more
IoT Newsletter

Join the IoT Now online community for FREE, to receive: Exclusive offers for entry to all the IoT events that matter, round the world

Free access to a huge selection of the latest IoT analyst reports and industry whitepapers

The latest IoT news, as it breaks, to your inbox