Sierra Wireless Acquires GNSS Embedded Module Assets of Approx $3.2 Million

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Friday, April 7th, 2017
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Image Source: Sierra Wireless

Sierra Wireless, based on Vancouver Canada, a provider of fully integrated device-to-cloud solutions for the Internet of Things (IoT), announced on April 7 that it has completed the acquisition of substantially all of the assets of Global Top Technology's Global Navigation Satellite System (GNSS) embedded module business for total cash consideration of approximately $3.2 million, subject to working capital adjustments.

According to press of Media OutReach, GlobalTop's GNSS embedded module portfolio will become part of the Sierra Wireless OEM Solutions product line, and the GNSS staff from GlobalTop will join Sierra Wireless. Global Top's GNSS products generated approximately $5.0 million U.S. in revenue during the last 12 months, and the business is approximately breakeven.

"With a wide array of modules and established sales channels, as well as a proven engineering team, we believe that the GlobalTop GNSS business is an important addition to Sierra Wireless," said Dan Schieler, Senior Vice President and General Manager, OEM Solutions, Sierra Wireless. "Building on our portfolio of Cellular, WiFi and Bluetooth modules, we will have additional products to offer to our customers in markets where positioning data is critical, including high-value asset tracking, telematics, drones and automotive."

Sierra Wireless (NASDAQ: SWIR) (TSX: SW) is building the Internet of Things with intelligent wireless solutions that empower organizations to innovate in the connected world. Customers start with Sierra because we offer the industry's most comprehensive portfolio of 2G, 3G and 4G embedded modules and gateways, seamlessly integrated with our secure cloud and connectivity services. OEMs and enterprises worldwide trust our innovative solutions to get their connected products and services to market faster. Sierra Wireless has more than 1,100 employees globally and operates R&D centers in North America, Europe and Asia.

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