Sierra Completes Acquisition of Numerex
Thursday, December 07, 2017 | Comments

Sierra Wireless completed its previously announced acquisition of internet of things (IoT) company Numerex.

“The acquisition of Numerex accelerates our IoT device-to-cloud strategy by adding an established customer base, proven solutions and recurring revenue scale,” said Jason Cohenour, president and CEO of Sierra Wireless.

Numerex stockholders voted in favor of the transaction Dec. 6. When the deal was announced in August, the transaction was valued at about US$107 million based on Sierra Wireless’ closing stock price Aug. 1 of US$29.65 per share and represented a premium of 17.5 percent to Numerex’s 20-day average share price.

Numerex has become a wholly owned subsidiary of Sierra Wireless, and Numerex common stock will be delisted from the Nasdaq and will be deregistered under the U.S. Securities Exchange Act of 1934, as amended. Common shares of Sierra Wireless will continue to trade on both the Nasdaq and the Toronto Stock Exchange (TSX) under the symbols “SWIR” and “SW” respectively.

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