Sierra Wireless, Inc. today announced that it has completed the acquisition of Sagemcom’s machine-to-machine (“M2M”) business.
Details of the acquisition were first announced on June 18, 2012.
Sagemcom, a leading French high-technology group active in broadband, telecom, energy, and document management, has successfully built a growing M2M franchise that includes 2G and 3G wireless modules, as well as industry-leading rugged terminals for GSM-Railway (GSM-R) applications. Acquiring the Sagemcom M2M business provides Sierra Wireless with a significantly enhanced market position in key segments, including payment, transportation, and railways, as well as new geographical expansion into Brazil.
Sierra Wireless paid cash of €44.9 million plus assumed liabilities to acquire substantially all of the assets of the Sagemcom M2M business.
Sierra Wireless (NASDAQ: SWIR) (TSX: SW) offers industry-leading mobile computing and machine-to-machine (M2M) communications products and solutions that connect people, devices, and applications over cellular networks. Wireless service providers, equipment manufacturers, enterprises and government organizations around the world depend on us for reliable wireless technology. We offer 2G, 3G and 4G wireless modems, routers and gateways as well as a comprehensive suite of software, tools, and services that ensure our customers can successfully bring wireless applications to market. For more information about Sierra Wireless, visit www.sierrawireless.com.
French high-technology group with an international dimension, Sagemcom operates on markets of broadband (digital home, digital set-top box, broadband and residential terminals), telecom and energy (M2M, telecommunications infrastructure, smartgrid and metering), and management of documents (printing terminals, software and solutions, digital production workflow). With a turnover of about 1.5 billion Euros, Sagemcom employs 4 600 people on five continents; already a European leader in most of its key markets, Sagemcom aims to become a world leader in high added value communicating terminals. Sagemcom is strongly committed to sustainable development through the life cycle of its products: eco-design, energy consumption, ethical code of all its suppliers. For more information: www.sagemcom.com