Kontron acquires CellularAutomotive Module Unit from Telit Cinterion
Kontron, a leading global provider of IoT/Embedded Computer Technology(ECT), has announced the signing of an asset deal with Telit Cinterion, a US-based companyheadquartered in Irvine, California, United States. The agreement entails Kontron's acquisition ofTelit Cinterion's Cellular Automotive Module Unit, marking a significant strategic move to enhance itsInternet of Things (IoT) offerings with its proprietary software technology. The assets of the moduleunit achieved revenues of slightly above EUR 100 million in 2022 and will be integrated into KontronEurope GmbH, a subsidiary of Kontron AG. The purchase price is EUR 24.5 million. Closing isexpected by August.
The acquisition of Telit Cinterion's Cellular Automotive Module Unit presents a compelling opportunity forKontron to enhance its product portfolio and to bolster internal engineering capacities, while preparing forthe increasing demand for advanced 4G/5G solutions. By integrating Telit Cinterion's solutions into its ownIoT software technology portfolio, Kontron aims to leverage its expertise.
Hannes Niederhauser, CEO Kontron AG. "Today's acquisition marks another milestone in Kontron's journeytowards becoming a global leader in IoT solutions. Telit Cinterion's world-class products seamlesslycomplement our existing technologies built on 5G and real-time standards for the automotive industry. Thisstrategic move solidifies our commitment to delivering exceptional IoT solutions to our customers andpropels us towards the forefront of innovation. With our expanded portfolio, we will drive transformativechange, leverage emerging technologies, and create a seamless IoT ecosystem that empowers industriesworldwide."
This transaction aligns with Kontron's strategy of replacing revenues generated from its recently sold ITservices business with strategic IoT acquisitions. Kontron is dedicated to delivering the same high level ofexpertise and skills that customers have come to trust and appreciate.