Sale of AirCard® assets and operations enables Sierra Wireless to accelerate M2M business growth

Sierra Wireless

Vancouver, British Columbia, Canada – Sierra Wireless Inc. has completed the sale of most of its AirCard® assets and operations to NETGEAR® Inc. for $138 million in cash plus approximately $5.9 million in assumed liabilities.

Sierra Wireless intends to use a substantial portion of the net proceeds from the transaction to continue its acquisition strategy in the M2M market.  It aims to accelerate revenue and earnings growth by strengthening its leadership in existing markets and expanding its position in the M2M value chain. In addition, Sierra Wireless has obtained the approval of the Toronto Stock Exchange for a Normal Course Issuer Bid (NCIB) to re-purchase shares of the company and has commenced purchases under this programme.

Sierra Wireless’s retained business includes its AirPrime™ embedded wireless modules, AirLink® intelligent gateways, and AirVantage™ M2M cloud product lines.

 

 “Sierra Wireless is now an M2M and connected device pure play, focused on providing innovative device-to-cloud solutions that enable customers across a broad range of markets to connect to the ‘Internet of Things’,” said Jason Cohenour, President and CEO of Sierra Wireless. “This transaction provides significant financial capacity to accelerate our growth in M2M – a market in which we are the world leader today, with the industry’s broadest product lineup, and an extensive, blue-chip customer base.”

 

Sierra Wireless (NASDAQ: SWIR) (TSX: SW) provides products and solutions for connected devices and M2M communications over cellular networks and offers wireless technology to equipment manufacturers, wireless service providers, enterprises and government organisations around the world.

RECENT ARTICLES

Blackline Safety sets new standard in connected worker safety with launch of G6

Posted on: September 26, 2022

San Diego, United States – Blackline Safety Corp., a global provider in connected safety technology, continues to trailblaze in the industrial worker safety market with the launch of a new connected wearable to transform single-gas detection. The all-new G6 personal gas detector – unveiled at the National Safety Council (NSC) Safety Congress & Expo in San Diego

Read more

Senet expands public LoRaWAN network across New York

Posted on: September 26, 2022

Portsmouth, United States – Senet, Inc., a provider of cloud-based software and services platforms that enable global connectivity and on-demand network build-outs for the Internet of Things (IoT) announced it is has expanded the build out of its public LoRaWAN network across all five boroughs of New York City. Through the combined operation of Senet’s

Read more
FEATURED IoT STORIES

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
IoT Newsletter

Join the IoT Now online community for FREE, to receive: Exclusive offers for entry to all the IoT events that matter, round the world

Free access to a huge selection of the latest IoT analyst reports and industry whitepapers

The latest IoT news, as it breaks, to your inbox