Telit Communications considering US IPO

Machine-to-machine wireless technology specialist Telit Communications said it is  considering a potential initial public offering in the United States.

Such an offering will be dependent upon market conditions and would be expected to occur, if at all, in the second half of 2012.

Telit had announced the US$3 million acquisition of Navman OEM Solutions just before Christmas 2011, saying the deal would help it become a “contender” in the growing GPS market.

It was the third deal of the year and followed on from the purchase of Motorola’s machine-to-machine business and the acquisition of connectivity services provider Globalconnect.

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