Sierra Wireless today announced that it has agreed to acquire substantially all of the assets of AnyDATA Corporation's M2M embedded module and modem business. The transaction is expected to close by the end of this month.
According to a financial documents, Sierra Wireless agreed to pay $5.9 million for AnyData, which is subject to final inventory valuation.
Upon completion of the acquisition, AnyDATA’s M2M embedded module and modem portfolio will become part of the Sierra Wireless OEM Solutions product line, and a team of 16 sales and engineering staff from AnyDATA’s Korean subsidiary will join Sierra Wireless.
According to Sierra Wireless, AnyDATA’s M2M embedded module and modem products generated approximately $10 million in revenue during the last 12 months and the business is modestly profitable.
Jason Cohenour, president and CEO of Sierra Wireless, said in a statement that the acquisition broadens his company's global reach, and enhances its technical capabilities.