M2M firm Telit buys cloud platform ILS Technology
In a bid to expand its service portfolio global machine-to-machine (M2M) provider Telit today announced that it will be acquiring ILS Technology, a cloud-based back-end service provider, for $8.5m.
London-based Telit communications specialises in the development of wireless M2M technology and claims to be a “one-stop-shop” for M2M connection modules and managed services including connectivity.
ILS Technology provides a cloud-based M2M application development platform, allowing users to rapidly build and deploy M2M applications that can connect to and integrate with existing database applications (currently supporting database technologies from Oracle, IBM and SAP among others) via the cloud.
“The acquisition provides Telit with access to additional value added services and customers, providing Telit with an even broader footprint in the m2m value chain,” said Telit’s chief executive, Oozi Cats.
“It opens new opportunities to expand our services offering to small & medium M2M customers worldwide, widening our market advantage and will support Telit’s recurring revenue strategy. We see tremendous synergies between our wireless modules and connectivity offerings and the ILST portfolio,” Cats added.
M2M has grown in popularity over the past five years, and these technologies are making significant headway in the automotive and logistics sectors. According to Vodaphone over half of enterprises in these and other sectors will have adopted M2M technology by 2015. Adding cloud to the mix makes M2M applications very scalable and more flexible than non cloud-enabled ones, allowing better prospects for application integration with a variety of services and databases.