RuggedCom Board agrees a C$33.00 per share cash takeover offer from Siemens

Concord, Ontario, Canada. February 1, 2012 – RuggedCom Inc., (TSX:RCM), a designer and manufacturer of industrial strength networks for mission-critical applications in harsh environments, has entered into an agreement with Siemens Canada Ltd under which Siemens will purchase all outstanding common shares of RuggedCom. The agreement, announced on January 30, is for a take-over bid price of C$33.00 per share in cash.

Each member of the Board of Directors as well as RuggedCom’s Chief Executive Officer and Chief Financial Officer, who together hold an aggregate of 1,691,192 RuggedCom shares or approximately 13.6% of the issued and outstanding shares of RuggedCom have entered into Lock-Up Agreements to remain with the company for the time-being, in line with the Support Agreement. The equity value of the proposed transaction is approximately C$440 million.

The Siemens offer represents a premium of 142% on the closing price of RuggedCom shares on the Toronto Stock Exchange on December 16, 2011. This was the last trading day prior to Belden, Inc. announcing its intention to make an unsolicited take-over bid for RuggedCom. The Siemens offer also represents a 50% premium relative to Belden’s unsolicited take-over bid at an offer price of C$22.00 per share.

After receiving the recommendation of its Special Committee and in consultation with its financial and legal advisors, the Board of Directors of RuggedCom has unanimously decided that the Siemens offer is in RuggedCom’s best interests. And the RuggedCom Board has agreed to recommend to RuggedCom shareholders that they accept the Siemens Offer and tender their shares to the offer.

Peter Crombie, chairman of the RuggedCom Board of Directors, said, “The Siemens Offer is the culmination of a thorough and vigorous process run by the Special Committee to identify superior alternatives to the Belden Offer. Given the level of interest from qualified potential parties, the Special Committee facilitated a process to maximise the value on offer for RuggedCom. We believe the Siemens offer, which has the unanimous support of the RuggedCom Board, provides fair value to our shareholders.”

Marzio Pozzuoli (pictured), RuggedCom’s president and chief executive officer, added, “We have great respect for Siemens and believe RuggedCom will be well positioned for continued growth and industry leadership under their ownership. We are confident that, in addition to providing excellent value to our shareholders, this transaction will be beneficial to RuggedCom’s valued customers and employees over the long term.”

Siemens is one of the largest and most diversified companies in electronics and electrical engineering, operating in the industrial, energy, healthcare, infrastructure and cities sectors. The company has approximately 4,400 employees in Canada, working to develop and manufacture products, design and install complex systems and projects, and tailor a wide range of solutions for individual requirements.


Self-driving technology firm Sensible 4 receives €8mn to boost sustainable transport

Posted on: May 19, 2022

Luxembourg & Finland. 19 May, 2022 – Sensible 4’s software enables vehicles to operate under the most challenging weather conditions, including snow, heavy rain, fog and sandstorms. Autonomous driving contributes to sustainable transport, reducing the number of traffic accidents and carbon dioxide and polluting emissions. It also provides a solution to the shortage of public

Read more

Wyld and DEWA partner to launch new satellite IoT network and service for utilities sector

Posted on: May 19, 2022

19 May 2022 – The Dubai Electricity and Water Authority (DEWA) has launched its satellite called DEWA-SAT1 and Wyld Networks has partnered with DEWA R&D Centre and Infra X, the telecoms arm of Digital DEWA, to develop IoT terminals to support the new satellite IoT network. Wyld is responsible for delivering the satellite IoT terminals

Read more

9 IoT applications that will change everything

Posted on: September 1, 2021

Whether you are a future-minded CEO, tech-driven CEO or IT leader, you’ve come across the term IoT before. It’s often used alongside superlatives regarding how it will revolutionize the way you work, play, and live. But is it just another buzzword, or is it the as-promised technological holy grail? The truth is that Internet of

Read more

Which IoT Platform 2021? IoT Now Enterprise Buyers’ Guide

Posted on: August 30, 2021

There are several different parts in a complete IoT solution, all of which must work together to get the result needed, write IoT Now Enterprise Buyers’ Guide – Which IoT Platform 2021? authors Robin Duke-Woolley, the CEO and Bill Ingle, a senior analyst, at Beecham Research. Figure 1 shows these parts and, although not all

Read more

CAT-M1 vs NB-IoT – examining the real differences

Posted on: June 21, 2021

As industry players look to provide the next generation of IoT connectivity, two different standards have emerged under release 13 of 3GPP – CAT-M1 and NB-IoT.

Read more

IoT and home automation: What does the future hold?

Posted on: June 10, 2020

Once a dream, home automation using iot is slowly but steadily becoming a part of daily lives around the world. In fact, it is believed that the global market for smart home automation will reach $40 billion by 2020.

Read more

5 challenges still facing the Internet of Things

Posted on: June 3, 2020

The Internet of Things (IoT) has quickly become a huge part of how people live, communicate and do business. All around the world, web-enabled devices are turning our world into a more switched-on place to live.

Read more

What is IoT?

Posted on: July 7, 2019

What is IoT Data as a new oil IoT connectivity What is IoT video So what’s IoT? The phrase ‘Internet of Things’ (IoT) is officially everywhere. It constantly shows up in my Google news feed, the weekend tech supplements are waxing lyrical about it and the volume of marketing emails I receive advertising ‘smart, connected

Read more