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JERUSALEM, July 13 (Xinhua) -- Israeli Telit Communications, which operates in the industry of Internet of Things (IoT), announced on Friday that it will sell its automotive division to Chinese TUS International for 105 million U.S. dollars.
The British-based Israeli company said the deal will enable it to better focus on the IoT business.
IoT is a network of physical devices, vehicles, home appliances and other items, designed to creat a smart entity like a smart home or city.
Controlled by TUS-Holdings, which is affiliated with China's Tsinghua University, TUS International provides advanced technological solutions for the automotive world such as the advanced driver-assistance systems.
