Telit to acquire Wireless communications assets to enhance IoT portfolio

Telit said it will acquire Bluetooth, Bluetooth Low Energy (BLE) and Near Field Communication (NFC) assets in hardware and software from Stollmann Entwicklungs und VertriebsGmbh (“Stollmann”) in Hamburg, Germany.

Telit

Stollmann is a global player in the Bluetooth and NFC business, designing, developing and manufacturing, low-power Bluetooth modules and software solutions for short range wireless communications. Assets in acquisition include among others, Stollmann’s Bluetooth and NFC software stacks, ready-to-use modules and other intellectual property (IP) in wireless communications.

Upon completion of the transaction, thirty-five Stollmann employees, mainly R&D engineers, are to be transferred to Telit, the company said. Telit said that the acquisition of the Stollmann assets represents another strategic step in its expanding vision of connecting an ever broader range of things to cloud.

“IoT devices are increasingly being integrated into every aspect of the consumer’s life, in application areas from health & wellness to retail and smart homes. The acquisition of these assets is a key development in the execution of our IoT vision of connecting enterprise edge assets – sensors and other remote devices – to the cloud using our tools such as the Telit IoT portal,” said Oozi Cats, Telit’s Chief Executive Officer.

The global Bluetooth Smart and “Smart-Ready” market to be worth $5.6bn by 2020 with Bluetooth Smart shipments to surpass 1.2 billion units in five years, up from just 49 million units in 2013,” MarketsandMarkets estimates.

“The IP we are acquiring will provide us with valuable expertise in additional short-range technologies including BLE, which is set to become the de-facto standard for local area and personal area IoT wireless connectivity,” Cats added.

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