Sierra Wireless confirms potential acquisition talks with Semtech

Bloomberg had reported that the talks between Semtech and Sierra Wireless were at an advanced stage

Canadian IoT solutions provider Sierra Wireless confirmed that it has engaged in “advanced discussions” regarding a potential transaction with Semtech at a price of $31 per share.

“No assurance can be given that the company will determine to continue such discussions or enter into any definitive agreement regarding any transaction or, if executed, whether any such transaction would be consummated,” said Sierra Wireless in a statement.

“The company does not intend to make any further announcement regarding these matters unless and until it enters into a binding, definitive agreement with respect thereto.”

At the same time that Sierra Wireless released its statement, Semtech made public its own, virtually identical statement with the same details.

Bloomberg had previously reported talks between Semtech and Sierra Wireless were at an advanced stage, with a deal potentially set to be unveiled in a matter of days.

Semtech Corporation is a global supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms for infrastructure, high-end consumer and industrial equipment. It is based in Camarillo, Southern California.

Semtech offers a variety of products, including LoRa, a long-range, low-power networking platform; receivers and transmitters; touch and proximity devices; wireless charging; and power management solutions.

With headquarters in Vancouver, Canada, Sierra Wireless is an IoT solutions provider that combines devices, network services, and software. Sierra Wireless has also offices and operations in California, Sweden, Korea, Japan, China, Taiwan, France, Australia, New Zealand and Hong Kong. The firm sells mobile computing and machine-to-machine (M2M) communications products that work over cellular networks, 2G, 3G, 4G and 5G mobile broadband wireless routers and gateways, modules, as well as software, tools, and services. Sierra Wireless products and technologies are used in a variety of markets and industries, including automotive and transportation, energy, healthcare, industrial and infrastructure, mobile computing and consumers, among others.

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