Sierra Wireless (SWIR,SW.TO) announced Friday that 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 or 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.
by RTT Staff Writer
For comments and feedback: email@example.com