June 6, 2014
Rome, 7 November 2007 – Telit Wireless Solutions, a global leader in machine-to-machine (M2M) communications, is pleased to announce that it has secured an order, worth $10 million over a two year period from a US customer. Further details of the transaction will be announced at a later date.
The $10 million order comes as Telit continues to make significant gains in the Americas region. Established in the second half of 2006, Telit Americas obtained, during the first half of the current year, major certifications on the Cingular / AT&T network that support its aggressive sales and marketing efforts and since obtaining these certifications has achieved 25 design wins with new customers in the Americas region. Revenues from these designs will contribute to significant increases in the performance of the Americas region, which accounted for only 3% of Telit’s revenues in the first half of 2007.
In addition, Telit unveiled today a strategic agreement with Infineon Technologies AG (FSE, NYSE: IFX), a worldwide leading supplier of semiconductors, communication ICs and system solutions for the provision to Telit of 4 million GSM/GPRS chipsets.
Telit will integrate the Infineon GSM/GPRS single chip in its next generation products scheduled to be launched in Q4 2008. Based on this highly integrated component, Telit will be able to offer an exciting new range of ultra-small size M2M modules with embedded functionalities.
"This major US deal is a very important achievement for Telit and demonstrates our leadership position in the M2M market. This deal, combined with the other gains being achieved in the Americas region, once again reflects Telit’s growth from a European oriented company to a true global competitor. I am excited about the opportunity now being demonstrated by Telit in the Americas and confident in our ability to meet the demands of our growing customer base," states Oozi Cats, Chief Executive Officer of Telit Communications PLC.
"Furthermore, the strategic agreement with Infineon emphasizes our expectations regarding the increasing sales volume for our GSM/GPRS modules in 2008 and 2009. This will help us to further enlarge our market share and to meet our ambitious growth objectives, while also ensuring that Telit continues to offer the best products and services in the M2M market," added Oozi Cats.
"We’re very happy, that Telit has chosen our best in class ultra low cost solution for their M2M services. The E-GOLDTM family is a highly integrated GSM/GPRS device. Therefore it’s a perfect and cost optimized solution for the growing M2M market," said Dominik Bilo, Senior Vice President and head of Sales and Group marketing of the Communication Solutions business group with Infineon. "This cooperation will also help us to increase our activities at the fast growing global market for GSM/GPRS M2M modules."