Sierra Wireless (NASDAQ:SWIR) (TSX:SW), a provider of fully integrated device-to-cloud solutions for the Internet of Things (IoT), has acquired substantially all of the assets of GlobalTop Technology´s Global Navigation Satellite System (GNSS) embedded module business for total cash consideration of approximately USD 3.2m, subject to working capital adjustments, the company said.
GlobalTop´s GNSS embedded module portfolio will become part of the Sierra Wireless OEM Solutions product line, and the GNSS staff from GlobalTop will join Sierra Wireless. GlobalTop´s GNSS products generated approximately USD 5.0m US in revenue during the last 12 months, and the business is approximately breakeven.
Sierra Wireless is building the Internet of Things with intelligent wireless solutions that empower organizations to innovate in the connected world. Customers start with Sierra because we offer the industry´s most comprehensive portfolio of 2G, 3G and 4G embedded modules and gateways, seamlessly integrated with our secure cloud and connectivity services. OEMs and enterprises worldwide trust our innovative solutions to get their connected products and services to market faster. Sierra Wireless has more than 1,100 employees globally and operates R&D centers in North America, Europe and Asia.