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Telit Communications To Buy Crossbridge Solutions - Quick Facts

1/2/2013 3:59 AM ET

Telit Communications Plc (TCM.L) has signed and consummated an agreement to purchase Crossbridge a premier US based M2M data and value added services provider located in Lincolnshire, Illinois, U.S.A. The company added that the Crossbridge acquisition and its U.S. based engineering and sales staff would allow Telit to expand its m2mAIR business unit offerings in M2M value added services and connectivity to the USA.

Oozi Cats, Chief Executive of Telit, said "the Crossbridge acquisition provides Telit with access to American value added service customers and provides Telit with an opportunity to expand its m2mAir offering to small/medium m2m customer in the U.S. We see tremendous synergies between m2mAir and the Crossbridge offering and we welcome the opportunity that this acquisition provides us to consolidate our presence in the US market."

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by RTT Staff Writer

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