Telit secures multi-million dollar Dutch contract

8th Oct 2015 08:53

(ShareCast News) - Telit Communications has secured a $30m contract to supply modules to the Netherlands for a leading smart meter vendors.The Internet of Things (IoT) enabling company will supply its CDMA 450 MHz modules and will be at the core of smart electricity meters.Dutch utility companies will deploy the meters nationwide over five years starting in 2016.Telit president Yosi Fait said the module used is a remarkable success story."It went from concept to commercial product in less than a year; and qualified us uniquely to supply to projects like this one in the Netherlands."This is also a great example of how well equipped Telit is to take advantage of these types opportunities in the dynamic IoT market which are becoming more abundant."Shares in Telit were up 1.25p at 0924 BST to 335.25p.