Machine-to-machine (M2M) solutions developer Telit Communications plc (AIM:TCM) has acquired Florida-based ILS Technology LLC, a provider of cloud platform services connecting enterprise IT systems to M2M-enabled devices and machines for businesses-critical use. Telit did not disclose the terms of the deal.
Telit will hire ILS Technology's management, engineering and support staff into its m2mAir services unit, with the objective of expanding Telit's one stop shop market approach for value added services. The acquisition will expand Telit's offering to Cloud enabled IT infrastructures in low entry-cost, PaaS service models, using ILS Technology's two product lines, secureWISE and deviceWISE.
Telit created the m2mAIR business unit in 2012 to centralize its company's connectivity and other value added services for European and Latin American clients. In North America, the company expanded its customer base through the acquisition of CrossBridge Solutions
"The ILS Technology acquisition provides Telit with access to additional value added services and customers, providing Telit with an even broader footprint in the M2M value chain," said Telit CEO Oozi Cats. "It opens up new opportunities to expand our service offerings to small & medium M2M customers worldwide, widening our market advantage. We see tremendous synergies between our hardware and connectivity offerings and the portfolio from ILS Technology. We welcome the opportunity that this acquisition provides us to further strengthen and solidify our presence in the M2M market."
Published by Globes [online], Israel business news - www.globes-online.com - on September 8, 2013
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