LONDON (Alliance News) - Machine-to-machine communications provider Telit Communications PLC on Friday said it has secured a licence agreement with Swiss telecommunications group Swisscom to provide the technology for the latter's Internet of Things offering.
Telit will provide a platform which will allow Swisscom to provide end-to-end IoT services and application development. No financial details were disclosed.
"We are pleased that Swisscom has selected the Telit IoT Platform to power its IoT services business. Licensing our IoT Platform to mobile network operators is an integral part of our IoT services strategy and rapidly becoming a growth engine for Telit's business," said Fred Yentz, the president and chief executive of Telit IoT Platforms.
Shares in Telit were down 0.5% to 268.28 pence on Friday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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