Sierra Wireless acquires GNSS embedded module assets of GlobalTop Technology
April 03 2017 - 7:00AM
Business Wire
Acquisition expands Sierra Wireless’ embedded
solutions for markets including high-value asset tracking,
telematics, drones and automotive
Sierra Wireless (NASDAQ:SWIR) (TSX:SW), a leading provider of
fully integrated device-to-cloud solutions for the Internet of
Things (IoT), today announced it has completed the acquisition of
substantially all of the assets of GlobalTop Technology’s Global
Navigation Satellite System (GNSS) embedded module business for
total cash consideration of approximately $3.2 million, subject to
working capital adjustments.
GlobalTop’s GNSS embedded module portfolio will become part of
the Sierra Wireless OEM Solutions product line, and the GNSS staff
from GlobalTop will join Sierra Wireless. GlobalTop’s GNSS products
generated approximately $5.0 million U.S. in revenue during the
last 12 months, and the business is approximately breakeven.
“With a wide array of modules and established sales channels, as
well as a proven engineering team, we believe that the GlobalTop
GNSS business is an important addition to Sierra Wireless,” said
Dan Schieler, Senior Vice President and General Manager, OEM
Solutions, Sierra Wireless. “Building on our portfolio of Cellular,
WiFi and Bluetooth modules, we will have additional products to
offer to our customers in markets where positioning data is
critical, including high-value asset tracking, telematics, drones
and automotive.”
About Sierra Wireless
Sierra Wireless (NASDAQ: SWIR) (TSX: SW) is building the
Internet of Things with intelligent wireless solutions that empower
organizations to innovate in the connected world. Customers start
with Sierra because we offer the industry’s most comprehensive
portfolio of 2G, 3G and 4G embedded modules and gateways,
seamlessly integrated with our secure cloud and connectivity
services. OEMs and enterprises worldwide trust our innovative
solutions to get their connected products and services to market
faster. Sierra Wireless has more than 1,100 employees globally and
operates R&D centers in North America, Europe and Asia. For
more information, visit www.sierrawireless.com.
Connect with Sierra Wireless on the IoT Blog at
http://www.sierrawireless.com/iot-blog, on Twitter at
@SierraWireless, on LinkedIn at
http://www.linkedin.com/company/sierra-wireless and on YouTube at
http://www.youtube.com/SierraWireless.
“Sierra Wireless” is a registered trademark of Sierra Wireless.
Other product or service names mentioned herein may be the
trademarks of their respective owners.
Forward Looking Statements
This press release contains forward-looking statements that
involve risks and uncertainties. These forward-looking statements
relate to, among other things, plans and timing for the
introduction or enhancement of our services and products,
statements about future market conditions, supply conditions,
channel and end customer demand conditions, revenues, gross
margins, operating expenses, profits, and other expectations,
intentions, and plans contained in this press release that are not
historical fact. Our expectations regarding future revenues and
earnings depend in part upon our ability to successfully develop,
manufacture, and supply products that we do not produce today and
that meet defined specifications. When used in this press release,
the words "plan", "expect", "believe", and similar expressions
generally identify forward-looking statements. These statements
reflect our current expectations. They are subject to a number of
risks and uncertainties, including, but not limited to, changes in
technology and changes in the wireless data communications market.
In light of the many risks and uncertainties surrounding the
wireless data communications market, you should understand that we
cannot assure you that the forward-looking statements contained in
this press release will be realized.
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version on businesswire.com: http://www.businesswire.com/news/home/20170403005057/en/
Sierra WirelessMedia:Kathleen Landry, +1 604-233
6309klandry@sierrawireless.comorInvestors:David Climie, +1
604-231 1137dclimie@sierrawireless.com
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