Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Telit launches new unit to meet Industrial IoT demand

Growing demand for what's called Industrial IoT (Internet of Things) has prompted Telit Communications to form a new business unit.
Telit launches new unit to meet Industrial IoT demand
The industrial Internet of Things is where industrial products, processes and services communicate with each other and with people over a network.

Growing demand for what's called Industrial IoT (Internet of Things) has prompted Telit Communications (LON:TCM) to form a new business unit.

The unit is called IoT Factory Solutions and will be part of the IoT services division will expand the firm's services and  increase recurring revenue opportunities.

The industrial Internet of Things is where industrial products, processes and services communicate with each other and with people over a network.

IoT Factory Solutions is well positioned to take advantage of the market opportunities in the Industrial IoT, otherwise referred to as Industrie 4.0, Telit said.

President and finance director Yosi Fait said: "We are now providing end-to-end enablement solutions for a number of vertical markets to our growing range of customers - and increasing our recurring revenues.

"We are looking to leverage our existing assets and industry expertise to exploit the growing demand for IoT in the manufacturing and factory markets, known as Industrial IoT.

 "This is a potentially very valuable market. We expect this business to make a significant contribution to Group revenues and profitability within four to five years."

IoT Factory Solutions allows customers to take advantage of the Industrial IoT opportunity with multiple paths to deployment, centered on the group's proven IoT platform for factory automation.

The group's deviceWISE for Factory is already an industry-leading, enterprise-grade industrial automation platform suited to all manufacturing verticals including automotive, pharmaceuticals, machinery, oil and gas.

Telit's secureWISE solution has been widely recognised as the leading solution for highly secured remote access, delivering connectivity across private networks.

Giles_55af4ddca6481.jpg
Why Invest In Telit Communications Plc? Read More Here

Register here to be notified of future TCM Company articles
View full TCM profile

Telit Communications Plc Timeline

Newswire
May 23 2016

Related Articles

a car filling up at a petrol station
September 22 2016
The firm says it will target new markets that offer “higher growth potential” over the course of the next financial year
Global game plan propels Keywords Studios to next level
September 13 2016
Keywords Studios services are used by 21 of the top 25 games developers
shutterstock_420468130.jpg
September 07 2016
The market appears to have been been catching on as well in recent weeks.

© Proactive Investors 2016

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.