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› Forums › General › News (General) › Telit sells automotive division for $105m
Tagged: FundMnA_G0
A few years ago, Telit Communications (AIM: TCM) marked its automotive division as a growth engine. Late last week, following several months of rumors, the company officially announced the sale of the division for $105 million in cash. The purchaser is Chinese company TUS International. The deal is slated for completion by the end of the year.