Sierra Wireless Completes US$19.6M M2M Group Acquisition
Wednesday, January 08, 2020 | Comments

Sierra Wireless completed the previously announced acquisition of M2M Group in Australia. Total cash consideration paid to the shareholders of the M2M Group was US$19.6 million plus about US$1.1 million for the retirement of certain obligations, subject to normal working capital adjustments.

The M2M Group is focused on internet of things (IoT) connectivity services and cellular devices in Australia, and the acquisition expands Sierra Wireless’ IoT solutions business in the Asia-Pacific region. Slightly more than half of the M2M Group’s revenue comes from subscription-based recurring revenue.

The M2M Group’s revenue for the 12 months ended Nov. 30 was US$19 million, of which US$9.6 million was recurring subscription-based revenue. The M2M Group has a strong management team and solid carrier relations in the region, Sierra Wireless said.

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