Sierra Wireless Completes Acquisition of Wireless Maingate
Sierra Wireless (NASDAQ: SWIR) (TSX: SW) today announced that it has completed the acquisition of Wireless Maingate, AB (Maingate), a Sweden-based provider of machine-to-machine (M2M) connectivity and data management services, for US $90 million, subject to certain post-closing adjustments. Details of the acquisition were first announced on December 22, 2014.
Maingate provides managed M2M connectivity and information management services to more than 500 customers across Europe, reaching a subscriber base of more than 500,000 connected devices. Founded in 1998, Maingate was a pioneer in offering wireless services specifically for the M2M market. Maingate’s value-added services include leading-edge over-the-air subscription provisioning and tailored connectivity solutions for a broad range of M2M industries.
Together, Sierra Wireless and Maingate will be able to offer customers in Europe complete device-to-cloud solutions, with fully integrated hardware, embedded software development tools, cloud-based application development, device and subscription management, and wireless services.
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 900 employees globally and has R&D centers in North America, Europe and Asia. For more information, visit www.sierrawireless.com.
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Forward Looking Statements
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