TUS International completed the acquisition of Telit Automotive Solutions for $105m.

TUS International, a technology company, completed the acquisition of Telit Automotive Solutions, an automotive OEM company, for $105m. "This transaction will significantly reduce our debt and provide us with the financial flexibility to focus our resources and accelerate the integration of our hardware and IoT services product lines in order to strengthen our leading position in the end-to-end IoT solutions space,” Yosi Fait, Telit CEO.