Sierra Wireless (NASDAQ:SWIR) (TSX:SW) today announced it has entered
into an agreement with AnyDATA Corporation and its subsidiaries to
acquire substantially all of the assets of AnyDATA’s machine-to-machine
(M2M) embedded module and modem business. The transaction is expected to
close by the end of this month.
Upon completion of the acquisition, AnyDATA’s M2M embedded module and
modem portfolio will become part of the Sierra Wireless OEM Solutions
product line, and a team of 16 sales and engineering staff from
AnyDATA’s Korean subsidiary will join Sierra Wireless. AnyDATA’s M2M
embedded module and modem products generated approximately $10 million
U.S. in revenue during the last 12 months and the business is modestly
profitable.
“With significant market share and established sales channels in Korea,
and a proven engineering team, we believe that the AnyDATA M2M business
represents an important addition to Sierra Wireless,” said Jason
Cohenour, President and CEO of Sierra Wireless. “This acquisition
broadens our global reach, enhances our technical capabilities, and
expands our market share leadership. We are very pleased to welcome the
AnyDATA customers and employees to Sierra Wireless.”
Additional information about the transaction is available in the Investor
Information section of the Sierra Wireless website. If the above
link does not work, please copy and paste the following URL into your
browser: http://www.sierrawireless.com/en/AboutUs/investorinformation.aspx.
About Sierra Wireless
Sierra Wireless (NASDAQ: SWIR) (TSX: SW) is the global leader in
machine-to-machine (M2M) devices and cloud services, delivering
intelligent wireless solutions that simplify the connected world. We
offer the industry’s most comprehensive portfolio of 2G, 3G and 4G
embedded modules and gateways, seamlessly integrated with our secure M2M
cloud services. Customers worldwide, including OEMs, enterprises, and
mobile network operators, trust our innovative solutions to get their
connected products and services to market faster. Sierra Wireless has
more than 850 employees globally and has R&D centers in North America,
Europe and Asia. For more information, visit www.sierrawireless.com.
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.
Copyright Business Wire 2013