Monday, April 07, 2008

Sierra Wireless Announces Acquisition of Cradlepoint, Inc.

Under the terms of the definitive agreement, Sierra Wireless will pay cash consideration of $21.8 million and will issue 462,963 shares to the shareholders of CradlePoint.

The combination of Sierra Wireless' leading mobile broadband solutions and CradlePoint's mobile networking technology and expertise is expected to deliver significant benefits:

- Establishes an immediate presence in the emerging, and potentially high growth, Mobile Broadband Networking category

- Expands our mobile computing product line up and addressable market, while leveraging our established global channels

- Strengthens our differentiation through enhanced IP networking and embedded software capability

- Expands our product offering and value proposition for key Vertical OEM customers in the industrial handheld segment

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