Sierra Wireless to acquire Sagemcom M2M for €44.9 million in cash
June 18, 2012 // Julien Happich
Sierra Wireless has entered into an exclusivity agreement for the acquisition of Sagemcom's machine-to-machine (M2M) business, submitting a binding offer to acquire all of the assets of the business for €44.9 million in cash.
The proposed acquisition remains subject to completion of the consultation process with employee representatives. This process is expected to commence immediately and, when complete, Sagemcom will be able to enter into a definitive agreement with Sierra Wireless. The companies expect this to occur in the third quarter.
Sagemcom, a leading French high-technology group active in broadband, telecom, energy, and document management, was an early entrant in the M2M market. The company has successfully built a growing M2M franchise that includes 2G and 3G wireless modules, as well as industry-leading rugged terminals for GSM-Railway (GSM-R) applications. Sagemcom M2M offers Sierra Wireless a significantly enhanced market position in key segments, including payment, transportation, and railways, as well as new geographical expansion into Brazil.
Sagemcom’s M2M business generated approximately €39.9 million in revenue and was solidly profitable during the twelve-month period ended December 31, 2011.
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