Telit Concludes Acquisition of NXP's Automotive Telematics On-board unit Platform ("ATOP") Business and Launches New OEM Automotive Business Unit

Acquisition of the ATOP Business from Leading Global Semiconductor Company Concludes with the Creation of Telit Automotive Solutions. End Quote

(1888PressRelease) April 04, 2014 - New Delhi, India - Telit Wireless Solutions, a leading global vendor of high-quality machine-to-machine (M2M) modules, value-added services and solutions, today announced it has concluded the acquisition of the Automotive Telematics On-board unit Platform (ATOP) business from Netherlands-based NXP Semiconductors (Nasdaq NXPI). ATOP is an automotive grade solution for vehicle manufacturers to implement eCallor similar functionality from a single compact and cost efficient package, delivering reduction in complexity and minimized costs in vehicle designs, customer data as well as regulatory compliance. The company at the same time launched Telit Automotive Solutions, a new business unit which is to focus exclusively on the Automotive OEM and Tier-one markets. The new organization will be headed up by industry veteran and long-time Telit executive, Dominikus Hierl as its CEO.

With the acquisition concluded, the company will integrate the ATOP business including sales, engineering and support staff into Telit Automotive Solutions, expanding its market reach with solutions leveraging the expanded engineering and sales expertise particularly in software-centric RFIs from Automotive and Telematics OEMs. The company achieved automotive-critical global ISO/TS16949 certification in July 2012 and maintains one of the industry's largest product portfolios for the automotive sector with particular emphasis on advanced technologies such as LTE and HSPA+. Telit has appointed Lars Reger, Head of Chip Development and General Manager for New Business in NXP's automotive business division as a non-executive director of Telit on closing.

Industry analysts position automotive as the strongest growing segment for M2M over the next few years. According to ABI Research's report on the global m2m module market published in May 2013, module shipments to automotive OEMs will grow from 6 million units in 2013 to 30 million in 2018. Regulatory initiatives like eCall in Europe, ERA GLONASS in Russia, DENATRAN 245 in Brazil lend further credibility to the strength of the sector along with the much publicized "connected car" trend which is likely to lead to 100% penetration of the technology in the very near future.

"This acquisition will take the ATOP technology to the next level, by embedding it in a sustainable ecosystem for innovative and high-quality automotive solutions. We're confident that our expertise will continue to grow under Telit's leadership in combination with continued cooperation from NXP", said Lars Reger. "NXP will stay highly involved in the future of ATOP by becoming a shareholder in Telit and joining the company's board."

"The acquisition of ATOP is the catalyst for building a dedicated Automotive business unit to better address Automotive opportunities and execute our strategy to become the market leader in this segment," said Telit CEO Oozi Cats. "The ATOP team is talented and enthusiastic to join Telit. Their expertise will be leveraged by positioning their top managers in significant roles within the new Telit Automotive organization."

"Together with a significant customer base, ATOP brings additional expertise in automotive platforms to compliment our already thriving automotive business", said Dominikus Hierl, CEO of the new Telit Automotive Solutions. "The multi-service capable platform provides support for a range of features from its single package, including vehicle location & tracking, remote starting and diagnostics as well as business applications like fleet management."

With over 12 years of unparalleled focus on M2M, reducing technical risk and shortening time to market for OEMs and integrators, Telit's ONE STOP. ONE SHOP delivers all necessary services and products to connect assets to the Internet of Things. Whether sourcing single products or full end-to-end solutions, count onM2M's broadest portfolio in cellular, short range and positioning technologies paired with m2mAIR services covering application enablement as well as deployment management & connectivity under mobile networks and over the internet & cloud. Telit benchmark-quality products and services are delivered with global support and logistics exceeding exacting requirements from customers large and small. Telit's ONE STOP. ONE SHOP. deliversthe Internet of Things made Plug & Play. Now innovate!

About Telit
Telit Wireless Solutions (AIM: TCM listed as Telit Communications PLC), is a global enabler of machine-to-machine (M2M) communications providing cellular, short range and positioning modules; and m2mAIR, managed and value added services, in application enablement and connectivity under mobile networks and internet/cloud. Business unit Telit Automotive Solutions delivers automotive-grade products and services to auto manufacturers and tier-one auto suppliers; and business unit Telit GNSS Solutionsreaches M2M and beyond, delivering award-winning geo-positioning products to the broader electronics and OEM markets. With over 12 years exclusively in M2M, the company constantly advances technology through seven R&D centers around the globe; marketing products and services in over 80 countries.

By supplying scalable products interchangeable across families, technologies and generations, rapid prototyping tools for application development, and m2m tailored connectivity, Telit is able to reduce development costs, protect design investments and minimize technical risk. The company provides customer support and design-in assistance through 32 sales and support offices, a global distributor network of experts with over 30 competence centers, and the Telit Technical Support Forum.

Telit provides products services and facilities to connect organizations to the Internet of Things (IoT) allowing them to wirelessly collect, process and respond to real-world data from connected devices, creating new efficiencies, revenue streams, societal and personal benefits. Join the conversation and learn more about Telit and its customers' innovative applications on Facebook and Twitter.

Copyright © 2014 Telit Communication PLC. All rights reserved. Telit, Telit Wireless Solutions, Telit Communication PLC, telit.com, telit2market, Telit Technical Forum, m2mAIR, m2mAIR.com, secureWISE, deviceWISE and all associated logos are trademarks of Telit Communications PLC in the United States and other countries. Other names used herein may be trademarks of their respective owners.

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