Sierra Wireless offers cash for Wavecom
No Comments
Sierra Wireless, makers of 3G wireless modems for all major U.S. mobile operators has made a cash tender offer for all outstanding shares of wireless CPU and embedded technology maker Wavecom.
Wavecom is an international company headquartered in France with a specialty in machine-to-machine (M2M) communication. The company's technology is found in applications such as automotive telematics, fleet management, GSM/GPS/satellite tracking, wireless alarms, wireless POS (point of sales), WLL (fixed voice), and remote monitoring.
The friendly takeover offer has the support of Wavecom's board of directors, who have agreed to tender all of their shares, or 21% of those outstanding. Sierra Wireless' tender offer equals €8.50 per share.