TIDMTCM
Telit Communications PLC
10 January 2018
RNS REACH
Telit Communications PLC
Telit partners with PST Electronics to enable global expansion
into new and emerging markets
London, January 10, 2018 - Telit Communications PLC ("Telit",
"the Group", AIM: TCM), a global enabler of the Internet of Things
(IoT), today announced an expanded strategic partnership with PST
Electronics ("PST", "the Company"), a Stoneridge company and leader
in telematics security, connected car supplies and telematics
solutions in Brazil and South America.
PST has selected the Telit deviceWISE platform to support the
Company's plans to scale its IoT suite of solutions into new global
markets.
Telit cellular and GPS modules power hundreds of thousands of
PST's telematics services and products across Brazil, securely
delivering real-time business intelligence to PST customers. Telit
expects 150,000 of those devices and future deployments will be
enabled by Telit's deviceWISE platform for device management,
offering 24/7 management of devices, data connectivity plans and
more from one easy-to-use interface, from anywhere in the
world.
Yosi Fait, CEO of Telit, said:
"PST is preparing an expansion of its highly successful
telematics solutions into new markets and segments and Telit's IoT
solutions will help it deliver the scale, reliability and
flexibility required to best serve its customers around the
globe.
"Our plan is to drive new opportunities to PST through our
extensive routes to market driven by key partners, mobile operators
and system integrators who are focused on delivering global
end-to-end, turnkey IoT solutions to their indirect customer
base.
"We're proud to work with a leader like PST and look forward to
further deepening our partnership with them."
Caetano Ferraiolo, President of PST Electronics, said:
"Leveraging Telit's deviceWISE platform allows us to execute the
next stage in our corporate and technology initiatives with a focus
on entering new markets with innovative services and an incredible
user experience for our customers.
"Telit's capabilities and dedicated team of experts will further
enable us to integrate IoT solutions beyond telematics and we
couldn't be more excited about what the future holds."
Enquiries:
Telit Communications PLC Tel: +972 3 7914000
Shir Stopper, Investor Relations
finnCap (Nomad and joint broker) Tel: +44 20 7220 0500
Henrik Persson/Giles Rolls (corporate finance)
Tim Redfern/Richard Chambers (corporate
broking)
Berenberg (Joint Broker) Tel: +44 20 3465 2722
Chris Bowman/Mark Whitmore/Ben Wright
Instinctif Partners Tel: +44 20 7457 2020
Adrian Duffield/Chantal Woolcock
About Stoneridge
Stoneridge, Inc. (NYSE: SRI), founded in 1965, is a global
designer and manufacturer of highly engineered electrical and
electronic components, modules and systems for the commercial
vehicle, automotive, off-highway and agricultural vehicle markets.
Our products and systems are critical elements in the management of
mechanical and electrical systems to improve overall vehicle
performance, convenience and monitoring in areas such as emissions
control, fuel efficiency, safety and security. Our extensive
footprint, including our joint ventures, encompasses more than 20
locations in 15 countries and enables us to supply to global and
regional commercial vehicle, automotive, off-highway and
agricultural vehicle manufacturers around the world. Our
custom-engineered products and systems are used to activate
equipment and accessories, monitor and display vehicle performance
and control, and provide vehicle security and convenience.
About PST Electronics
PST Electronics is a joint venture of Stoneridge, Inc. Founded
in 1988, PST provides telematics, infotainment, comfort and
security solutions for the automotive industry. The company
develops tracking & trace, alarm for cars, motorcycles and
trucks, car audio, power door lock and window lifters, parking
sensors, blocking systems and instrument clusters. PST Electronics
is a leader in automotive security and supplies to the major
automakers in Brazil and South America. Its design center staff is
capable of locally developing firmware, software, hardware and
mechanical parts in a wide range of technologies such as radio
frequency (RF) and ultrasonic sensing. The company is known by its
two primary brands, PST Electronics serving the OEM automotive
market, and Positron serving the independent aftermarket and
Track&Trace Service market. Currently, the company has two
factories in Brazil and a branch in Buenos Aires, Argentina.
About Telit
Telit (AIM: TCM), is a global leader in Internet of Things (IoT)
enablement connecting the world from the inside out. The company
offers the industry's broadest portfolio of integrated products and
services for IoT deployments - including cellular communication
modules in all technologies, GNSS, Wi-Fi, 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.
# # #
Copyright (c) 2017 Telit Communications PLC. All rights
reserved. Telit 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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