10th Feb 2011 09:07
TELIT COMMUNICATIONS PLC
("Telit" or the "Company")
Israeli Anti-Trust Authority Clearance of Motorola M2M acquisition
On 28 January 2011, Telit Communications Plc, a leading m2m wireless technology company, announced the proposed acquisition of Motorola m2m, the m2m communications division of Motorola.
Telit announces that it has received unconditional clearance to the transaction from the Israeli Anti-Trust Authority. Completion of the acquisition remains conditional upon the Company's receipt of approval from the Office of the Chief Scientist of the Israeli Ministry of Industry, Trade & Labour as well as shareholder approval of the Resolutions to be proposed at the General Meeting to be held on 16 February 2011.
Expressions used in this announcement shall have the meanings set out in circular sent to shareholders on 28 January 2011.
For further information please contact:
Telit Communications Plc +39 06 420 4601
Oozi Cats, CEO
Yariv Dafna, CFO
Michael Galai, VP Legal & General counsel
Investec +44 20 7597 4000
Andrew Pinder
Patrick Robb
Dominic Emery
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