IoT company Telit Communications looked to have become a takeover target, attracting interest from two companies for possible deals which could boost its play in the connected devices sphere.
Following media speculation, Telit announced it received a preliminary approach by asset management company DBay Advisors regarding a potential offer.
Hardware company Lantronix also made an approach and while this initial move was rejected by Telit’s board, it said discussions regarding a transaction more in the interests of its shareholders were ongoing.
Telit explained a deal involving Lantronix shares would be a key factor in any agreement.
But it also emphasised there was no certainty either suitor would make an offer: it set a deadline for initial indications of 1 December.
The company claims it empowers “hundreds of millions of connected things” by providing wireless connectivity modules, software platforms and global IoT connectivity services.Subscribe to our daily newsletter Back