Ituran sells Telematics unit to Singapore Technologies Electronics Ltd.

Nov. 20, 2007

Ituran Location and Control Ltd. (www.ituran.com) said it has agreed to sell its subsidiary Telematics to STEE-InfoComm, a unit of Singapore Technologies Electronics Limited (www.stengg.com), for $90 million.

Ituran Location and Control Ltd. has agreed to sell its subsidiary Telematics to STEE-InfoComm, a unit of Singapore Technologies Electronics Ltd, for $90 million. The firms also agreed that Telematics will provide location technology to Ituran.

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