Telit Communications PLC Collaboration with Tech Mahindra

TIDMTCM

Telit Communications PLC

03 August 2016

RNS Reach

Telit Communications PLC

Collaboration with Tech Mahindra to develop end-to-end IoT solutions

London, 3 August 2016 - Telit Communications PLC (AIM: TCM, "Telit", the "Group"), a global enabler of the Internet of Things (IoT), has signed a multi-faceted collaboration agreement with Tech Mahindra Ltd (NSE: TechM, "Tech Mahindra"), a specialist in digital transformation, consulting and business re-engineering, to develop end-to-end solutions for the Internet of Things (IoT).

The collaboration will entail combining and integrating Telit's leading portfolio of IoT products and services with Tech Mahindra's unmatched system integration and end-to-end enterprise solutions expertise. Tech Mahindra's IoT experts have been trained and are fully certified in designing end-to-end solutions around Telit IoT modules, connectivity and Cloud-based platforms.

The collaboration will enable Telit and Tech Mahindra to offer clients complete end-to-end solutions such as IoT solution consulting, solution development and operations. This combined offering can reduce the complexity, risk, cost and time-to-market when compared with customers developing their own custom project in house.

Telit and Tech Mahindra are already engaged in several industrial customer projects together, including a leading global heavy equipment company.

Karthikeyan Natarajan, Senior Vice President & Global Head of Engineering Services at Tech Mahindra, said:

"With Telit, we are each strategically focused on capitalizing on the exponential growth across many IoT verticals. Together we are well positioned to grow at a faster pace than or equal to the sector.

"This collaboration will address the broad IoT solutions with particular emphasis on the industrial internet and Industry 4.0 programs of our manufacturing customers across Automotive, Aerospace, Medical, discrete and hi-tech manufacturing verticals."

Yosi Fait, President and FD of Telit, commented:

"Our joint capabilities can be easily applied to any corporate seeking to transform its business model using IoT enabled products and services. Our business synergies offer a new way for companies to exploit the IoT to enhance materially their businesses.

"Together we can help organizations transform their businesses with end-to-end IoT solutions - from ideation generation to full commercial deployments - which integrate with existing enterprise systems."

Telit has also reached an agreement to outsource related engineering development and testing activities to Tech Mahindra.

Enquires:

 
Telit Communications PLC                  Tel: +39 06 4204601 
 Oozi Cats, CEO 
 Yosi Fait, Finance Director & President 
 
Canaccord Genuity Limited (Nominated      Tel: +44 20 7523 
 Adviser and Joint Broker)                 8000 
 Simon Bridges/Cameron Duncan 
 
Berenberg (Joint Broker)                  Tel: +44 20 3465 
 Chris Bowman/Ben Wright                   2722 
 
Instinctif Partners                       Tel: +44 20 7457 
                                           2020 
Adrian Duffield/Chantal Woolcock

About Telit

Telit (AIM: TCM), is a global leader in Internet of Things (IoT) enablement. The company offers the industry's broadest portfolio of integrated products and services for end-to-end IoT deployments - including cellular communication modules in all technologies, GNSS, short-to-long range wireless modules, IoT connectivity plans and IoT platform services. Through the IoT Portal, Telit makes IoT onboarding easy, reduces risk, time to market, complexity and costs for asset tracking, remote monitoring and control, telematics, industrial automation and others, across many industries and vertical markets worldwide.

About Tech Mahindra Ltd

Tech Mahindra represents the connected world, offering innovative and customer-centric information technology services and solutions, enabling Enterprises, Associates and the Society to Rise(TM). We are a USD 4.0 billion company with 105,400+ professionals across 90 countries, helping over 800 global customers including Fortune 500 companies. Our innovation platforms and reusable assets connect across a number of technologies to deliver tangible business value to our stakeholders. Tech Mahindra is also amongst the Fab 50 companies in Asia as per the Forbes 2015 List.

We are part of the USD 17.8 billion Mahindra Group that employs more than 200,000 people in over 100 countries. The Group operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, after-market, information technology and vacation ownership.

This information is provided by RNS

The company news service from the London Stock Exchange

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August 03, 2016 02:01 ET (06:01 GMT)

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