Wavecom Buys M2M Partner
Wavecom has signed a definitive agreement to buy Anyware Technologies, a machine-to-machine (M2M) client-server software company based in Toulouse, France. Wavecom and Anyware have worked together for several years. The acquisition will allow the combined entities to broaden their deployment of turnkey solutions.
Anyware's headquarters will remain in Toulouse with Emmanuel Walckenaer serving as CEO of the subsidiary while retaining his current role as vice president of Wavecom's Intelligent Device Services. Former Anyware CEO Ludovic Le Moan will continue to play a strategic role by combining Anyware Technologies software and Wavecom embedded expertise on a new platform.
Formed in 2000, Anyware Technologies has grown at double-digit rates over the last few years, ending 2007 with sales of nearly $7.4 million, an increase of 74% from the previous year. The transaction was finalized for a cash payment to Anyware shareholders of $13.5 million plus $2.2 million placed in escrow for customary warranty provisions.
Last month, Wavecom teamed up with Ingenico in a co-development deal to develop wireless payment terminals. Under the terms of that agreement, Wavecom will supply wireless technology to Ingenico, and the R&D teams of both companies will work together to develop the new system.