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Semtech To Acquire Sierra Wireless For Enterprise Value Of About US$1.2 Bln

Semtech Corp. (SMTC) agreed to acquire all outstanding shares of Sierra Wireless Inc. (SWIR, SW.TO) for US$31 per share in an all-cash transaction representing a total enterprise value of about US$1.2 billion.

The deal price represented a premium of about 25% to the closing price of Sierra Wireless' common stock on July 29, 2022, the last trading day prior to media speculation regarding a potential transaction.

The deal is also expected to be immediately accretive to Semtech's non-GAAP earnings per share before synergies and generate US$40 million of run-rate operational synergies within 12-18 months post-transaction close.

The transaction is expected to close in Semtech's fiscal year 2023.

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