Telit’s flagship M2M service signs up over 80 customers in less than nine months

Telit Communications PLC, (AIM: TCM, "Telit” or the "Company”), the leading machine-to-machine (M2M) wireless technology company, today announced a summary of performance data for its new m2mAIR business unit. The business unit was established in mid-2011, focusing solely on the development and commercialization of M2M value added services including connectivity.

In February 2012, the Company announced a global strategic partnership with Telefonica, a world leader in telecommunications, to offer premium value-added services, customer support, module innovation and global connectivity.

Telit released then its first m2mAIR VAS offering based on Telefonica’s global M2M solutions and a self-developed, innovative, embedded module technologies & compatible cloud and backend services.

Since m2mAIR’s first offering launch, over 300 customers joined its pilot program. The company reports the signing of over 80 commercial contracts after only nine months of pilots and sales.

The 2012 edition of IMS research‘s study on the M2M industry places Telit second in that market for worldwide module sales in 2011. Since m2mAIR targets primarily small and mid-size accounts, usually served through indirect channel, Telit sees huge growth potential for m2mAIR.

Oozi Cats, Telit Chief Executive

"We are delighted by the take up of m2mAIR – which is ahead of our expectations. In the Internet of things, machine to machine value added services & connectivity is now being rolled out at pace.

"With our relationship with Telefonica and established distribution channels, we have a strategic advantage in this fast growing market – as indicated by the rapid take up by customers around the world.”

"Our position in this market was further strengthened by the acquisition earlier this year of US-based CrossBridge Solutions, a veteran provider of M2M focused value-added services and connectivity, which will provide Telit access to US-based value added service & connectivity customers, as well as an opportunity to expand its m2mAir offering into the US.

Notes to editors

Telit is a global leader of machine-to-machine (M2M) communications providing wireless module technology via its brand Telit Wireless Solutions, enhanced by managed and value added services, including connectivity via its business unit m2mAIR.

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