Sierra Wireless to Buy M2M Specialist for $90M
Sierra Wireless (NASDAQ: SWIR) (TSX: SW) and Wireless Maingate AB (Maingate), a Sweden-based provider of machine-to-machine (M2M) connectivity and data management services, today announced that Sierra Wireless has entered into a definitive agreement to acquire Maingate for US $90 million in cash. The transaction is expected to close in February 2015.
“The acquisition of Maingate is a strong strategic fit for Sierra Wireless, helping us to accelerate our device-to-cloud mission with the addition of leading edge wireless M2M connectivity and managed services,” said Jason Cohenour, Sierra Wireless President and CEO. “Maingate has a strong base of top-tier M2M customers and a proven technology platform that we believe will enable market expansion and accelerated services growth through our channels.”