July 3, 2023
- Telit Cinterion and Kontron have today signed a binding agreement whereby Telit Cinterion will sell its cellular automotive product business to Kontron
- With this divestment, Telit Cinterion sharpens focus on its pure-play industrial and commercial IoT strategy
Sale concluded on August 1, 2023 of our 4G and 5G cellular automotive wireless modules business to Kontron AG.
Irvine, Calif., July 3, 2023 – Telit Cinterion, a global leader in the Internet of Things (IoT), and Kontron AG (KTN:GR), a global supplier of smart IoT solutions and professional IT services, today jointly announced that they have entered into a binding agreement under which Telit Cinterion will sell its cellular automotive IoT product business to Kontron.
The intended transaction includes Telit Cinterion’s complete portfolio of cellular automotive wireless communication modules, ranging from 4G LTE to 5G. The expected transaction reaffirms California-based Telit Cinterion’s market position as the leading Western provider of cybersecure IoT solutions, and the company’s growing reach in key industrial IoT segments and end markets including energy, telematics, e-health, broadband, and security & surveillance.
With approximately 4,500 employees across 21 countries, Kontron is a technology provider to top global brands. The company posted sales of EUR 1,342 million in 2022. The intended transaction will be submitted to the relevant workers’ councils. The transaction is expected to close in Q3 2023, subject to regulatory approvals and other customary closing conditions.
Kontron and Telit Cinterion customers and partners will continue to receive the outstanding supply, support, and service to which they have been accustomed. All relevant parties will receive updates throughout the transaction, upon closing and ensuing integration period.
About Kontron
Kontron AG (www.kontron.com, ISIN AT0000A0E9W5, WKN A0X9EJ, KTN) is a leading IoT technology company. For more than 20 years, Kontron has been supporting companies from a wide range of industries to achieve their business goals with intelligent solutions. From automated industrial operations, smarter and safer transport to advanced communications, medical and energy solutions, the company delivers technologies that add value for its customers. Kontron is listed on the SDAX® of the German Stock Exchange and has around 4,500 employees with subsidiaries in more than 20 countries around the world.