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Telit Communications PLC has acquired One RF Technology S.A.S., a privately held French company that designs wireless data transmission solutions for m2m and telemetry applications and develops its own ZigBee™ solutions that complement Telit's existing product offering and business.
One RF's strategic acquisition will enable Telit to capture m2m market segments that require short range solutions or combined solutions integrating short range and cellular technologies. One RF has two product lines for the m2m market based on standard ZigBee and proprietary mesh IEEE 802.15.4 protocols. These products are based on proprietary software developed by the company. Telit will include these products within its offering to existing and potential m2m customers. Furthermore, based on this technology, Telit will develop and offer routers and gateways that will ease the deployment of short range mesh networks connected via cellular infrastructure.
The consideration for the One RF acquisition is 1,300,000 new ordinary shares of 1p each in the capital of Telit. Telit's total issued share capital - following the issuance of the new shares - is 44,514,281 ordinary shares of 1p each and one voting right per share. The 15 employees of One RF will be fully integrated with the 40 employees Telit has in its Solutions Research and Development center in Sardinia.
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