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 company headquartered in Irvine, California, United States. The agreement entails Kontron’s acquisition of Telit Cinterion’s Cellular Automotive Module Unit, marking a significant strategic move to enhance its Internet of Things (IoT) offerings with its proprietary software technology. The assets of the module unit achieved revenues of slightly above EUR 100 million in 2022 and will be integrated into Kontron Europe GmbH, a subsidiary of Kontron AG. The purchase price is EUR 24.5 million. Closing is expected by August.

The acquisition of Telit Cinterion’s Cellular Automotive Module Unit presents a compelling opportunity for Kontron to enhance its product portfolio and to bolster internal engineering capacities, while preparing for the increasing demand for advanced 4G/5G solutions. By integrating Telit Cinterion’s solutions into its own IoT software technology portfolio, Kontron aims to leverage its expertise.

Hannes Niederhauser, CEO Kontron AG. “Today’s acquisition marks another milestone in Kontron’s journey towards becoming a global leader in IoT solutions. Telit Cinterion’s world-class products seamlessly complement our existing technologies built on 5G and real-time standards for the automotive industry. This strategic move solidifies our commitment to delivering exceptional IoT solutions to our customers and propels us towards the forefront of innovation. With our expanded portfolio, we will drive transformative change, leverage emerging technologies, and create a seamless IoT ecosystem that empowers industries worldwide.”

This transaction aligns with Kontron’s strategy of replacing revenues generated from its recently sold IT services business with strategic IoT acquisitions. Kontron is dedicated to delivering the same high level of expertise and skills that customers have come to trust and appreciate.

Similar news

Contract wins: Kontron signs 3 major railway contracts worth exceeding EUR 100m

Vienna, February 07, 2024 – Kontron announces contract wins in Ireland, Austria, and Slovenia worth exceeding EUR 100m. With these ...
Explore

Kontron acquires majority stake in Katek SE and expands leading position in the IoT market

59.4% of shares acquired from KATEK’s majority shareholder PRIMEPULSE High-growth areas of photovoltaics and eMobility Smart Charging complement Kontron’s product ...
Explore

Guidance 2024: Kontron expects another sharp increase in net profit to over EUR 87 million in 2024

Net profit for 2024 is expected to grow 21% against forecast of 2023 2023 targets met and surpassed Linz, 15 ...
Explore