Novatel to acquire M2M module/box provider Enfora
We are seeing a trend here where the cellular M2M hardware market is consolidating. This acquisition continues the trend we have seen in the past few months where M2M providers are acquiring companies to become one stop providers of M2M solutions and services.
Novatel Wireless reported Monday that it has entered into a definitive agreement to acquire Enfora for about $64.5 million in a move to enhance its drive into the nascent machine-to-machine (M2M) market.Enfora sells a range of M2M solutions to enterprises, applications service providers, original equipment manufacturers (OEMs), and distributors. The M2M market, predicted to grow at an annual compound rate of more than 22% through 2014 by ABI Research, involves locating radio frequency identification (RFID) technology via remote sensors connected wirelessly. M2M applications are expected to boom as the price of remote sensors drops to the 5-cents-a-device range.