Sierra Wireless (NASDAQ: SWIR) (TSX: SW) has completed the acquisition of 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, 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 Inc. is a wireless data communications equipment company. The company delivers a variety of products including PC cards for portable computers, ruggedized vehicle-mounted modems, original equipment manufacturer modules for embedded applications, telemetry modems, and software tools and utilities.