Friday, October 11, 2013

Sierra Wireless enters agreement for M2M embedded module and modem assets of AnyData Corporation

Highlights:
  • Expands Sierra Wireless’s global market share leadership in machine-to-machine (M2M)
  • Provides leading position in important Korean market, with established sales channels, long term customer relationships, and advanced 4G technology
VANCOUVER, British Columbia--(BUSINESS WIRE)-- Sierra Wireless (NASDAQ:SWIR) (TSX:SW) today announced it has entered into an agreement with AnyDATA Corporation and its subsidiaries to acquire substantially all of the assets of AnyDATA’s machine-to-machine (M2M) embedded module and modem business. The transaction is expected to close by the end of this month. 

Upon completion of the acquisition, AnyDATA’s M2M embedded module and modem portfolio will become part of the Sierra Wireless OEM Solutions product line, and a team of 16 sales and engineering staff from AnyDATA’s Korean subsidiary will join Sierra Wireless. AnyDATA’s M2M embedded module and modem products generated approximately $10 million U.S. in revenue during the last 12 months and the business is modestly profitable. 

“With significant market share and established sales channels in Korea, and a proven engineering team, we believe that the AnyDATA M2M business represents an important addition to Sierra Wireless,” said Jason Cohenour, President and CEO of Sierra Wireless. “This acquisition broadens our global reach, enhances our technical capabilities, and expands our market share leadership. We are very pleased to welcome the AnyDATA customers and employees to Sierra Wireless.”