M2MEnterprise IoT


Sierra Wireless sells Modem Business to Netgear to become "pure-play" M2M Vendor

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Report Summary:

On January 28th, 2013, Netgear entered into an Asset Purchase Agreement with Sierra Wireless to acquire the operations of Sierra Wireless AirCard business, including customer relationships, certain intellectual property, inventory and fixed assets. The purchase price was approximately $138 million in cash. The transaction, which is subject to customary closing conditions, including the receipt of necessary regulatory clearances, is expected to close by the end of Netgear's fiscal first quarter. Upon completion of the transaction, Sierra Wireless's retained business will include its AirPrime embedded modules for M2M and Mobile Computing, AirLink intelligent gateways and routers, and AirVantage M2M cloud product lines. The $138 million, 160-employee deal gives Netgear the opportunity to make a big push into LTE access devices and compliments their networking equipment business while for Sierra Wireless the “transaction is the next step in the transformation of the company to focus on enabling the 'Internet of Things’” This insight takes a look at the reasons for the deal from both a Netgear and Sierra Wireless perspective and the subsequent industry implications that emerge.

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