Telit hit by failed deal costs

Machine-to-machine (m2m) communications technology developer Telit Communications says that trading remains strong but its 2010 figures will be hit by $400,000 of costs relating to acquisition talks. That does not hamper the progress of the underlying business. Telit wants to be involved in the consolidation of the M2M market and it has been investigating a number of potential deals, including one that would significantly increase the size of the business.Telit has been unable to secure a deal on realistic terms so no acquisitions will be made this year. However, Telit continues to seek out opportunities.