ST Engineering says wholly-owned subsidiary, ST Electronics (Info-Comm Systems), has increased its stake in Telematics Wireless by 2.73% for a sum of US$2.16 million ($3.07 million).

With this increase, STEE-InfoComm owns 96.66% stake in Telematics.

Telematics is engaged in the development of radio frequency technology and wireless solutions for the machine-to-machine (M2M) industry.

Its major customers include location-based service providers for stolen vehicle recovery and fleet management, utility meter manufacturers, as well as electronic toll system providers and road toll operators.