Vancouver, Canada and Paris, France — (METERING.COM) — December 4, 2008 – Mobile computing wireless modem provider Sierra Wireless, Inc. is to acquire the Paris-based Wavecom S.A., a leading provider of embedded wireless technology for M2M (machine-to-machine) communication.
Together, Sierra Wireless and Wavecom will be a market leader in wireless data, and will be uniquely positioned to benefit from the anticipated growth in wireless data for the mobile computing and M2M markets – expected to grow to over 200 million units by 2012. The combined company is expected to benefit from significant competitive advantages in the marketplace. Among these are the industry’s most comprehensive wireless data product portfolio including PC adapters, 2G, 3G and multi-mode embedded modules, M2M terminals, software and solutions, and long-term relationships with mobile network operators and market-leading OEM (original equipment manufacturer) customers in key markets around the world, as well as clear leadership in advanced wireless data technology and innovation, with unparalleled research and development capabilities.
"The agreement reached today between Sierra Wireless and Wavecom is a key strategic milestone for both companies. In joining forces, we are creating a global leader in wireless data," said Jason Cohenour, president and CEO of Sierra Wireless. "The acquisition of Wavecom will be the foundation of our plans to substantially expand our position in the global M2M market. Furthermore, Wavecom will significantly increase our scale and capabilities in Europe and Asia – both of which are important geographical expansion opportunities for the company."
"Sierra Wireless and Wavecom are a natural match. The two companies share similar histories and a common culture of innovation and technology leadership in wireless data. Joining with Sierra Wireless is a unique opportunity for Wavecom, its customers and employees," said Ronald Black, CEO of Wavecom.
Wavecom will operate as a Sierra Wireless business unit based in Paris, and the two companies will leverage synergies in product development, sales channels and complementary resources to accelerate profitable growth and product leadership in M2M embedded modules, terminals, and software, solutions and services. Furthermore, the addition of Wavecom’s significant presence and capabilities in Europe will provide strong support to Sierra Wireless’ mobile computing business in the region.
Additional information regarding product, go-to-market and other integration details will be provided after the transaction is complete, probably in the first quarter of 2009.