Sources in London’s financial district are muttering about Sierra Wireless considering merging with Telit, a move that would create a united company with revenues of over £1bn ($1.3bn). Such a move, should it transpire, could help the two better compete against rivals, and it might help Telit shrug some of the tarnish from the disgraced former CEO Oozi Cats affair. The story comes from The Mail on Sunday, a sister to the Daily Mail, and cites “City (of London) sources.” It has received very little traction elsewhere, but nonetheless, deserves some examination. The two rivals’ potential consolidation would continue a trend in the IoT, most prevalent in the semiconductor industry. Sierra Wireless, a Canadian firm, would be buying Telit out…