10 Jan 2018 07:00
RNS REACH
Telit Communications PLC
Telit partners with PST Electronics to enable global expansion into new and emerging markets
London, January 10, 2018 - Telit Communications PLC ("Telit", "the Group", AIM: TCM), a global enabler of the Internet of Things (IoT), today announced an expanded strategic partnership with PST Electronics ("PST", "the Company"), a Stoneridge company and leader in telematics security, connected car supplies and telematics solutions in Brazil and South America.
PST has selected the Telit deviceWISE platform to support the Company's plans to scale its IoT suite of solutions into new global markets.
Telit cellular and GPS modules power hundreds of thousands of PST's telematics services and products across Brazil, securely delivering real-time business intelligence to PST customers. Telit expects 150,000 of those devices and future deployments will be enabled by Telit's deviceWISE platform for device management, offering 24/7 management of devices, data connectivity plans and more from one easy-to-use interface, from anywhere in the world.
Yosi Fait, CEO of Telit, said:
"PST is preparing an expansion of its highly successful telematics solutions into new markets and segments and Telit's IoT solutions will help it deliver the scale, reliability and flexibility required to best serve its customers around the globe.
"Our plan is to drive new opportunities to PST through our extensive routes to market driven by key partners, mobile operators and system integrators who are focused on delivering global end-to-end, turnkey IoT solutions to their indirect customer base.
"We're proud to work with a leader like PST and look forward to further deepening our partnership with them."
Caetano Ferraiolo, President of PST Electronics, said:
"Leveraging Telit's deviceWISE platform allows us to execute the next stage in our corporate and technology initiatives with a focus on entering new markets with innovative services and an incredible user experience for our customers.
"Telit's capabilities and dedicated team of experts will further enable us to integrate IoT solutions beyond telematics and we couldn't be more excited about what the future holds."
Enquiries:
Telit Communications PLC Shir Stopper, Investor Relations | Tel: +972 3 7914000 |
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finnCap (Nomad and joint broker) Henrik Persson/Giles Rolls (corporate finance) Tim Redfern/Richard Chambers (corporate broking) | Tel: +44 20 7220 0500 |
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Berenberg (Joint Broker) Chris Bowman/Mark Whitmore/Ben Wright | Tel: +44 20 3465 2722 |
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Instinctif Partners | Tel: +44 20 7457 2020 |
Adrian Duffield/Chantal Woolcock |
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About Stoneridge
Stoneridge, Inc. (NYSE: SRI), founded in 1965, is a global designer and manufacturer of highly engineered electrical and electronic components, modules and systems for the commercial vehicle, automotive, off-highway and agricultural vehicle markets. Our products and systems are critical elements in the management of mechanical and electrical systems to improve overall vehicle performance, convenience and monitoring in areas such as emissions control, fuel efficiency, safety and security. Our extensive footprint, including our joint ventures, encompasses more than 20 locations in 15 countries and enables us to supply to global and regional commercial vehicle, automotive, off-highway and agricultural vehicle manufacturers around the world. Our custom-engineered products and systems are used to activate equipment and accessories, monitor and display vehicle performance and control, and provide vehicle security and convenience.
About PST Electronics
PST Electronics is a joint venture of Stoneridge, Inc. Founded in 1988, PST provides telematics, infotainment, comfort and security solutions for the automotive industry. The company develops tracking & trace, alarm for cars, motorcycles and trucks, car audio, power door lock and window lifters, parking sensors, blocking systems and instrument clusters. PST Electronics is a leader in automotive security and supplies to the major automakers in Brazil and South America. Its design center staff is capable of locally developing firmware, software, hardware and mechanical parts in a wide range of technologies such as radio frequency (RF) and ultrasonic sensing. The company is known by its two primary brands, PST Electronics serving the OEM automotive market, and Positron serving the independent aftermarket and Track&Trace Service market. Currently, the company has two factories in Brazil and a branch in Buenos Aires, Argentina.
About Telit
Telit (AIM: TCM), is a global leader in Internet of Things (IoT) enablement connecting the world from the inside out. The company offers the industry's broadest portfolio of integrated products and services for IoT deployments - including cellular communication modules in all technologies, GNSS, Wi-Fi, short-to-long range wireless modules, IoT connectivity plans and IoT platform services. Through the IoT Portal, Telit makes IoT onboarding easy, reduces risk, time to market, complexity and costs for asset tracking, remote monitoring and control, telematics, industrial automation and others, across many industries and vertical markets worldwide.
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