30th Oct 2007 07:01
Telit Communications PLC30 October 2007 Telit Communications PLC (the "Company" or "Telit") Telit Wins Order of $10m US Contract and Orders 4 Million GSM/GPRS Chipsets From Infineon Rome, 30 October 2007 - Telit Wireless Solutions, a global leader inmachine-to-machine (M2M) communications, is pleased to announce that it hassecured an order, worth $10 million over a two year period from a US customer.Further details of the transaction will be announced at a later date. The $10 million order comes as Telit continues to make significant gains in theAmericas region. Established in the second half of 2006, Telit Americasobtained, during the first half of the current year, major certifications on theCingular / AT&T network that support its aggressive sales and marketing effortsand since obtaining these certifications has achieved 30 design wins with newcustomers in the Americas region. Revenues from these designs will contributeto significant increases in the performance of the Americas region, whichaccounted for only 3% of Telit's revenues in the first half of 2007. In addition, Telit unveiled today an agreement with Infineon Technologies AG(FSE, NYSE: IFX), a worldwide leading supplier of semiconductors and systemsolutions for the provision to Telit of 4 million GSM/GPRS chipsets over aperiod of 24 months starting in October 2007. As part of this agreement, Telit will integrate the new Infineon GSM/GPRS singlechip in its next generation products scheduled to be launched in Q4 2008. Basedon this highly integrated component, Telit will be able to offer an exciting newrange of ultra-small size M2M modules with embedded functionalities. "This major US deal is a very important achievement for Telit and demonstratesour leadership position in the M2M market. This deal, combined with the othergains being achieved in the Americas region, once again reflects Telit's growthfrom a European oriented company to a true global competitor. I am excited aboutthe opportunity now being demonstrated by Telit in the Americas and confident inour ability to meet the demands of our growing customer base." "Furthermore, the agreement with Infineon emphasizes our expectations regardingthe increasing sales volume for our GSM/GPRS modules in 2008 and 2009. This willhelp us to further enlarge our market share and to meet our ambitious growthobjectives, while also ensuring that Telit continues to offer the best productsand services in the M2M market", states Oozi Cats, Chief Executive Officer ofTelit Communications PLC. About Telit Telit is a leading global wireless communications technology company. Telitdevelops, produces and sells GSM/GPRS, UMTS/HSDPA and CDMA/EVDO modules formachine-to-machine communication (M2M). Telit sells its modules worldwide viasales offices in China, Denmark, France, Germany, Great Britain, Israel, Italy,Korea, Spain, Taiwan, and the USA. Telit's key target group is systemintegrators who are developing various vertical M2M applications and require thecommunication modules needed to do this. Telit Communications plc is listed onthe AIM (ticker: TCM). For more information about the company, please visitwww.telit.com. For further information please contact: Telit Communications plcMaya Lustig, VP Investor Relations Tel: +972 (3) [email protected] Seymour Pierce LimitedStuart Lane Tel: +44 (0) 20 7107 8000www.seymourpierce.com The Global Consulting GroupJonathan Shillington Tel: +44 (0) 20 7826 [email protected] http://www.hfgcg.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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