Sierra Wireless Completes Acquisition Of MobiquiThings

(PresseBox) ( Richmond, British Columbia, )
Sierra Wireless (NASDAQ:SWIR) (TSX:SW) today announced that it has completed the acquisition of MobiquiThings, a leading European mobile virtual network operator, based in France. Details of the acquisition were first announced on June 24, 2015.

MobiquiThings is an MVNO focused on managed connectivity services for the Internet of Things, with broad segment experience including the energy, transportation, security, retail, and healthcare markets. It offers a unique technology platform that includes MobiquiSIM, a dynamic attachment service that provides its customers with superior radio access network coverage and industry-leading quality of service (QoS), as well as SIM provisioning and management for 2G, 3G, and 4G connectivity. The company has more than 75 customers, which together comprise more than 100,000 wireless connectivity subscriptions.

Sierra Wireless has purchased all of the shares of MobiquiThings for €14 million in cash, subject to certain post-closing adjustments, plus a performance-based earnout formula that extends into 2017.

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Forward Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply conditions, channel and end customer demand conditions, revenues, gross margins, operating expenses, profits, and other expectations, intentions, and plans contained in this press release that are not historical fact. Our expectations regarding future revenues and earnings depend in part upon our ability to successfully develop, manufacture, and supply products that we do not produce today and that meet defined specifications. When used in this press release, the words "plan", "expect", "believe", and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in the wireless data communications market. In light of the many risks and uncertainties surrounding the wireless data communications market, you should understand that we cannot assure you that the forward-looking statements contained in this press release will be realized.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150902006164/en/
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