It is with great pleasure to announce that Navman Wireless OEM Solutions has been acquired by Telit Communications Plc. We welcome all Navman employees and clients to the Telit family. The acquisition adds valuable resources in terms of human resources and product lines to Telit. It will enable Telit to strengthen its global market position and boost our possibilities to support clients worldwide technically and logistically in the well known Telit way.

This is an exciting move for Navman allowing us to be more competitive in the m2m space, utilizing the resources of Telit as leading player in the global market. This will enable us to better support our customers from regional, commercial and technical aspects.

The acquisition of Navman's technology and its U.S.- based executive engineering and sales staff will make Telit a major contender in the GPS market while providing an enhanced product portfolio for its M2M customers.

The Navman acquisition provides Telit access to new GPS customers and products beyond the traditional M2M industry; Navman's reputation for delivering state-of-the-art GPS technology and the global reach of Telit's sales and marketing organization put us in a strong position of growth in the GPS sector.

In addition, the acquisition strengthens our position as the premier product and consultative partner in the M2M industry by leveraging the synergies of both companies to better serve our global customers.

"GPS-enabled location awareness and M2M industries are experiencing substantial growth, and we're happy to see the combination of two leading companies in these fields to strengthen their participation in this space," said Kanwar Chadha, CMO of CSR plc, and founder of SiRF. (LSE: CSR and NASDAQ: CSRE), a global provider of wireless chipsets and a supplier of SiRF-branded GPS chipsets to Navman. "The acquisition will lead to increased collaboration between CSR and Navman in creating location-based solutions that also leverage Telit's M2M expertise to address the needs of this exciting market."

As of January 3rd, 2012 Navman Wireless OEM we will become a Business Unit of the Telit Group and our products and solutions will be branded Telit in the future.