TCM.L Share News (TCM)

(ShareCast News) - Internet of things company Telit Communications announced on Friday it has entered into an agreement with a major global enterprise application software group (EASG) to license and resell the Telit deviceWise platform.The AIM-traded company said the collaboration between Telit and the unnamed EASG laid the foundation for seamless and secure connection of internet of things (IoT) devices.It explained that it will deliver trusted data to the EASG's enterprise resource planning systems and extract value through its analytics across any industrial environment for remote machine monitoring and control, production diagnostics, predictive maintenance and remote service, across all markets and industries worldwide."Our collaboration with one of the world's largest enterprise application software groups to license and resell our solution creates a new way for companies to onboard to the internet of things," said Telit chief executive Oozi Cats."We look forward to serving new and existing customers of our new partner across different industries and markets worldwide.""Additionally we offer the industry's broadest portfolio of IoT products and services and bring unmatched expertise and resources to help the EASG's customers get started with IoT - from prototyping to wide-scale commercial deployments," Cats added.Investors seemed pleased by the news as well, with Telit shares up 1.41% at 198.25p at 1135 BST.