Semtech Completes Buy of Sierra Wireless
Semtech completed its buy of Sierra Wireless in an all-cash transaction valued at $1.2 billion and expected to nearly double the company’s annual revenue. The buy “adds approximately US$100 million of high-margin IoT Cloud services recurring revenues,” said a Thursday…
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news release: “Semtech expects the acquisition to be immediately accretive … and to generate US$40 million of run rate operational synergies within 12-18 months post close.” Top Sierra Wireless executives joined the company -- Tom Mueller as executive vice president of the IoT System Products Group, Ross Gray as vice president-IoT Connected Services Group and Pravin Desale as senior vice president-IoT engineering.