Machine-to-machine (M2M) wireless tech firm Telit Communications is to buy GPS modules and solutions group Navman Wireless OEM Solutions for $3m in cash.
"The acquisition of Navman's technology and its US-based executive engineering and sales staff will make Telit a major contender in the GPS market while providing an enhanced product portfolio for its M2M customers," Telit said.
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"Navman's reputation for delivering state-of-the-art GPS technology and the global reach of Telit's sales and marketing organization put us in a strong position to benefit from the growth in the GPS sector," said Telit's Chief Executive Oozi Cats.
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