Report of Foreign Issuer (6-k)
April 03 2017 - 7:02AM
Edgar (US Regulatory)
UNITED
STATES SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 6-K
Report
of Foreign issuer
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of
1934
For the
Month of
April
2017
(Commission
File.
No 0-30718).
SIERRA WIRELESS, INC., A CANADIAN CORPORATION
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(Translation of registrant’s name in English)
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13811 Wireless Way
Richmond, British Columbia, Canada V6V 3A4
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(Address of principal executive offices and zip code)
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Registrant’s Telephone Number, including area code:
604-231-1100
Indicate by
check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F:
Form 20-F
40-F
X
Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934:
Yes: ____ No:
X
Sierra
Wireless acquires GNSS embedded module assets of GlobalTop Technology
Acquisition
expands Sierra Wireless’ embedded solutions for markets including
high-value asset tracking, telematics, drones and automotive
VANCOUVER, British Columbia--(BUSINESS WIRE)--April 3, 2017--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.
CONTACT:
Sierra Wireless
Media
:
Kathleen Landry, +1
604-233 6309
klandry@sierrawireless.com
or
Investors:
David
Climie, +1 604-231 1137
dclimie@sierrawireless.com
SIGNATURES
Pursuant to
the requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
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Sierra Wireless, Inc.
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By:
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/s/ David G. McLennan
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David G. McLennan, Chief Financial Officer and Secretary
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Date:
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April 3, 2017
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