Sierra Wireless Confirms Discussion For Potential Acquisition By Semtech

Sierra Wireless, Inc. (SWIR, SW.TO), a Canadian Internet of Things solutions provider, on Tuesday confirmed that it has engaged in advanced talks for a potential acquisition by Semtech Corporation (SMTC), a semiconductor supplier, for $31 per share.

Sierra has also clarified that it does not intend to disclose any further information on the proposed transaction unless and until it enters into a definitive deal with respect thereto.

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