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Slide #12. Telit Wireless Solutions — NXP's Automotive Telematics On-board unit Platform Business
Telit Wireless Solutions
NXP's Automotive Telematics On-board unit Platform Business (NASDAQ:NXPI)
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 eCall or 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.
Strong Buy (3.62 out of 4)