Sierra Wireless completes acquisition of Sagemcom M2M business
(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 02 August 2012
Release date- 01082012 - Vancouver, Canada - Sierra Wireless, Inc. (NASDAQ: SWIR) (TSX: SW) 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 EUR44.9 million plus assumed liabilities to acquire substantially all of the assets of the Sagemcom M2M business.
About Sierra Wireless
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
Forward Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, our proposed acquisition of the Sagemcom M2M business and expectations regarding the combination of that business with our existing business, 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. When used in this press release, the words 'plan', 'expect', 'believe', and similar expressions may identify some forward-looking statements. These forward-looking statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, whether Sagemcom will enter into a definitive agreement with us, whether we will successfully complete the acquisition of the Sagemcom M2M business, as well as the risks commonly encountered in acquisition of businesses, which risks (and others) are discussed in our Annual Information Form and Management's Discussion and Analysis of Financial Condition and Results of Operation, which may be found on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. 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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