Sierra Wireless Inc. and Wavecom S.A. a provider of embedded wireless technology for M2M (machine-to-machine) commu...
December 2, 2008
Sierra Wireless Inc. and Wavecom S.A. a provider of embedded wireless technology for M2M (machine-to-machine) communication, announced today that the companies have reached a Memorandum of Understanding and plan to merge.
The purchase price is worth an estimated $346 million.
“The agreement reached today between Sierra Wireless and Wavecom is a key strategic milestone for both companies,” said Jason Cohenour, president and CEO of Sierra Wireless. “The acquisition of Wavecom will be the foundation of our plans to substantially expand our position in the global M2M market.
“Furthermore, Wavecom will significantly increase our scale and capabilities in Europe and Asia, both of which are important geographical expansion opportunities for the company.”