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Telit Receives Preliminary Proposal From U-blox - Quick Facts

Telit Communications Plc (TCM.L) confirmed it has received a preliminary proposal from u-blox Holding AG regarding a possible all-share merger. Telit shareholders would receive u-blox shares with a value of 2.50 pounds per Telit share, which would result in Telit shareholders owning approximately 53% in the combined company. Telit said its Board is considering the proposal, and a further announcement will be made when appropriate.

Telit specializes in Internet of Things (IoT) enablement with an extensive portfolio of wireless connectivity modules, software platforms and global IoT connectivity services.

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