Telit Acquires GPS Module Business from Navman Wireless

On December 21, M2M wireless technology provider Telit Communications has anounced the acquisition of the OEM GPS module department of Navman Wireless for $3 million in cash.

With twelve employees in engineering and sales, this business is located in Foothills Ranch, CA and focuses purely on the sale of GPS modules. According to Telit it is expected to generate approximately $7.1 million of revenue and $0.2M of EBITDA in the year to Dec. 31, 2011. The transaction will be completed on Jan. 3, 2012.

According to Telit CEO Oozi Cats, the acquisition of Navman’s technology and its U.S.- based executive engineering and sales staff will make Telit a major contender in the GPS market while providing an enhanced product portfolio for its M2M customers.

“The Navman acquisition provides Telit access to new GPS customers and products beyond the traditional M2M industry,” Cats said. “Navman’s reputation for delivering state-of-the-art GPS technology and the global reach of Telit’s sales and marketing organization put us in a strong position of growth in the GPS sector.”