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WirelessDevNet.com Press Release

Sierra Wireless to Pay US$21 Million Cash for Router Maker In-Motion Technology


Wireless technology company Sierra Wireless has signed a friendly deal to buy In Motion Technology Inc. for US$21 million in cash.

In Motion makes rugged and secure mobile routers for vehicles.

It generated US$15 million of revenue in 2013, with a gross margin of 50 per cent of revenue.

Sierra, which makes a range of communications equipment, says the businesses are complementary and the deal will broaden and strengthen its portfolio.

Sierra says aiming for between US$112 and US$116 million of revenue for 2013, according to guidance released in November.

The deal, which requires court approval, is expected to close in early March.



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