TUS International Limited has received shareholder approval for both the transaction and the fundraising required to fund the purchase. Work is currently taking place to secure debt TUS component.
READ: Telit confirms US$105mln acquisition of its automotive division by TUS International expected to complete by 31 January 2019
Completion is now scheduled for February 20.
TUS president Sean Shen said: "We expect to finalise the outstanding items and reach completion of the transaction shortly."