DBAY to acquire Telit Communications for £307m.

DBAY Advisors, an asset management firm, agreed to acquire Telit Communications, an IoT enablement provider, for £307m. "Telit has transformed in recent years and is now a business built on strong financial, operational and governance foundations. Whilst we believe that Telit is well positioned to capitalise on growth opportunities in its markets, the Cash Offer represents an opportunity for Shareholders wanting to realise their investment in cash to do so at a material premium to the historical share price of Telit," Simon Duffy, Telit Chair of the Board.