TCM.L Share News (TCM)

Telit, a machine-to-machine (M2M) communications firm, has announced a global strategic partnership with Telefónica, a world leader in telecommunications, to offer the premium value-added services, customer support, module innovation and global connectivity previously reserved for larger firms.The move is aimed at delivering a new service that will enable M2M service providers and application developers to bring solutions more quickly to market with technical support over the entire product lifecycle. Chief Executive Officer of Telit, Oozi Cats, said: "This unprecedented bundle from Telit and Telefónica signals a paradigm shift in the industry because finally any M2M service or solution provider of any size can have the same quality of service, performance, pricing and support as the largest players in the industry."Many of the most exciting new M2M applications are being developed by smaller firms, and this offering will accelerate those innovations worldwide."The new service will initially launch in Europe, Middle East, Africa, South America and selected countries by the third quarter of 2012. Telit's share price rose 17.12% to 65.00p by 13:54. NR