IT services and communication companies Telit and Thales, agreed to form a joint venture Telit Cinterion, an IoT services provider. Telit and Thales have agreed on a 75-25 merger, with Thales receiving a 25% stake in Telit Cinterion. Financial terms were not disclosed. "Innovation, scale and efficient IoT solutions are key for success. This transaction with Thales is arguably the most impactful one for Telit competitiveness. While it will boost our ability to address customer needs more precisely from a richer portfolio, it will also enable us to deliver all new offerings derived from the experience, expertise, and the DNA of two companies that have made security and quality part of their brand promise from the very beginning," Paolo Dal Pino, Telit CEO.