Sierra Wireless

Last updated
Sierra Wireless, Inc.
Company type Subsidiary
Industry
  • Communication equipment
  • connectivity services
  • Internet of Things (IoT)
Founded1993;31 years ago (1993) in Richmond, British Columbia
HeadquartersRichmond, British Columbia, Canada (global)
Products
  • Mobile broadband devices
  • embedded wireless modules
  • wireless gateways and routers
  • M2M cloud platform
  • connectivity services
Number of employees
1,000
Parent Semtech
Website www.sierrawireless.com
Footnotes /references
[1]

Sierra Wireless (a subsidiary of Semtech Corporation) is a Canadian multinational wireless communications equipment designer, manufacturer and services provider headquartered in Richmond, British Columbia, Canada. It also maintains offices and operations in the United States, Korea, Japan, Taiwan, India, France, Australia and New Zealand. [2]

Contents

The company 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, field service, healthcare, industrial and infrastructure, mobile computing and consumers, networking, sales and payment, and security. It also maintains a network of experts in mobile broadband and M2M integration to support customers worldwide.

The company's products are sold directly to original equipment manufacturers (OEMs), as well as indirectly through distributors and resellers. [3]

History

Sierra Wireless was founded in 1993 in Vancouver, Canada. In August 2003, it completed an acquisition of privately held, high-speed CDMA wireless modules supplier, AirPrime, [4] issuing approximately 3.7 million shares to AirPrime shareholders. [5] On March 6, 2007, the company announced its purchase of Hayward, California-based AirLink Communications, a privately held developer of high-value fixed, portable, and mobile wireless data solutions.[ buzzword ] [6] Prior to the May 2007 completion of its sale to Sierra Wireless for a total of $27 million in cash and stock, AirLink had reported $24.8 million in revenues and gross margin of 44 percent. [7]

In August 2008, Sierra Wireless purchased the assets of Junxion, a Seattle based producer of Linux-based mobile wireless access points and network routers for enterprise and government customers. [8] In December 2008, Sierra Wireless made a friendly all-cash bid to acquire Wavecom, a French M2M wireless technology developer. The sale was completed for $275 million. [9]

In August 2012, the company acquired SAGEMCOM's M2M business in a cash transaction of EUR44.9 million plus assumed liabilities. [10] In November 2012, Sierra Wireless was recognized as an M2M market leader by market research and intelligence firm, ABI Research. Based on the company's aggregated revenues, ABI found that Sierra Wireless held a 34 percent share of the M2M module market. [11]

In January 2013, Sierra Wireless sold all assets and operations related to its AirCard business to NETGEAR, Inc. for $138 million in cash plus approximately $6.5 million in assumed liabilities. [12]

In April 2017, Sierra Wireless acquired GlobalTop Technology's GNSS embedded modules business for $3.2 million. [13] In December, 2017, Sierra Wireless acquired Numerex, in a deal estimated at US$107 million. [14] [15] [16] [17]

In 2020, Sierra Wireless completed the acquisition of M2M Group in Australia for USD18.4 million and M2M One in New Zealand for USD3.5 million. [18] In the same year, the company sold its automotive business for USD144 million. [19] In April 2020, Sierra Wireless appointed Samuel Cochrane as Chief Financial Officer. [20] In November 2020, Sierra Wireless sold its automotive modules division to Rolling Wireless. [21]

In July 2021, Sierra Wireless appointed Phil Brace as CEO. [22]

In August 2022, Semtech agreed to buy Sierra Wireless in an all-cash transaction valued at US$1.2 billion including debt. [23] The acquisition was completed in January 2023. [24]

Patents and technology

Sierra Wireless has been granted more than 550 unique patents for an array of technologies ranging from built-in antennas and product form factors, to battery power usage and management and network efficiency improvements. The company currently has patents pending in the US, Europe, Asia, Australia, Mexico, and South Africa. [25]

Products

Sierra Wireless offers IoT products and services including the following: [26]

Until the 2013 sale of all assets and operations, [12] Sierra Wireless also manufactured and marketed AirCard, mobile broadband devices permitting users to connect notebooks, netbooks, and other electronics to the Internet over 3G and 4G mobile broadband networks via PC or express card slots, USB ports, or mobile WiFi hotspots.

Community support

Sierra Wireless is an active United Way of the Lower Mainland supporter. For its efforts, the company was recognized with United Way Employee Gold Awards and a 2002 Award of Excellence. [27]

In 2003, Canadian public university Simon Fraser University announced the creation of the Sierra Wireless Chair in Wireless Communication, [28] which was funded through annual donations for a three-year period. Upon completion of the original three-year term, the company extended its partnership with the university by establishing an endowed Sierra Wireless Professorship in Mobile Communication. [29] In partnership with the university's School of Engineering Science in the Faculty of Applied Sciences, the Sierra Wireless Mobile Communications Laboratory was opened in November 2012. [30]

See also

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References

  1. ↑ "Sierra Wireless, Inc. 2021 Form 6-K". SEC.gov. U.S. Securities and Exchange Commission. 22 February 2022.
  2. ↑ "Sierra Wireless - Global Offices" . Retrieved 11 November 2020.
  3. ↑ "Sierra Wireless 2006 Q1 Quarterly Report" (PDF). Archived from the original (PDF) on October 19, 2006. Retrieved October 2, 2012.
  4. ↑ Dano, Mike. Sierra Wireless shares up on AirPrime acquisition, RCR Wireless, June 17, 2003.
  5. ↑ "Sierra Wireless to acquire AirPrime for CDMA Modules". June 16, 2003. Retrieved September 28, 2012.
  6. ↑ "Sierra Wireless announces acquisition of AirLink Communications". Reuters. March 6, 2007. Retrieved October 2, 2012.
  7. ↑ "Sierra Wireless, Inc. Completes Acquisition of AirLink Communications, Inc". May 25, 2007. Retrieved October 2, 2012.
  8. ↑ "Sierra Wireless Completes Asset Purchase Agreement with Junxion, Inc" (Press release). Sierra Wireless. August 5, 2008. Retrieved March 27, 2013.
  9. ↑ "Transcript of Conference Call Held on Dec 2, 2008 at 8:00 A.M. (EST)" . Retrieved September 28, 2012.
  10. ↑ "Sierra Wireless, Inc. Completes Acquisition Of Sagemcom M2M Business". Reuters . Retrieved September 28, 2012.
  11. ↑ "Sierra Wireless Corporate Overview". Archived from the original on January 26, 2013. Retrieved November 29, 2012.
  12. 1 2 "SIERRA WIRELESS ENTERS INTO AGREEMENT TO SELL ASSETS OF AIRCARD® BUSINESS TO NETGEAR" (Press release). Sierra Wireless. January 28, 2013. Retrieved February 12, 2013.
  13. ↑ "Sierra Wireless acquires GlobalTop Technology GNSS modules business".
  14. ↑ "Sierra Wireless (SWIR) to Acquire Numerex Corp. (NMRX) in $107M Deal". StreetInsider.com. Retrieved 2022-12-20.
  15. ↑ "Numerex Corp_ Announces Shareholder Approval of Merger Agreement," December 06, 2017, Globe Newswire, retrieved 2018-10-17
  16. ↑ Symington, Steve (2017-12-30). "Why Sierra Wireless, Inc. Stock Fell 11.8% in December". The Motley Fool. Retrieved 2022-12-20.
  17. ↑ press release: "Sierra Wireless, Inc. Completes Acquisition of Numerex Corp," December 07, 2017, Sierra Wireless, Inc., (also same article at Yahoo Finance Business Wire retrieved 2018-10-17
  18. ↑ Newsroom, Sierra Wireless (2020-01-30). "Sierra Wireless completes acquisition of the M2M Group". TelecomTV. Retrieved 2022-12-20.
  19. ↑ Staff (2020-07-23). "Sierra Wireless to sell its Automotive Embedded Module business". Converge Digest. Retrieved 2024-01-24.
  20. ↑ "Sierra Wireless Appoints Samuel Cochrane as Chief Financial Officer". finance.yahoo.com. Retrieved 2020-04-15.
  21. ↑ "Sierra Wireless Completes Divestiture of Automotive Embedded Module Product Line".
  22. ↑ "Sierra Wireless Appoints Phil Brace as New President and CEO".
  23. ↑ Hammond, Ed; Baker, Liana (2022-08-02). "Semtech Agrees to Buy Sierra Wireless at $1.2 Billion Value" . Bloomberg News .
  24. ↑ "Semtech Corporation Completes Acquisition of Sierra Wireless". Semtech (Press release). January 12, 2023.
  25. ↑ "Sierra Wireless, Inc". Patents Observer. Retrieved July 11, 2013.
  26. ↑ "Products & Services". Sierra Wireless. Retrieved October 2, 2012.
  27. ↑ "Company Awards". Sierra Wireless. Retrieved October 2, 2012.
  28. ↑ "Sierra Wireless Mobile Communications Lab" . Retrieved October 2, 2012.
  29. ↑ "Senate Committee on University Priorities Memorandum" (PDF). Retrieved October 2, 2012.
  30. ↑ "Collaborators drawn to new wireless communications lab" (Press release). Simon Fraser University. November 28, 2012. Retrieved March 27, 2013.
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