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Sierra Wireless acquires GNSS embedded module assets of GlobalTop Technology
Apr. 07, 2017 08:19AM PST
Emerging Technology InvestingSierra Wireless (NASDAQ:SWIR; TSX:SW) has announced it has completed the acquisition of all the assets of GlobalTop Technology’s Global Navigation Satellite System (GNSS) embedded module for $3.2 million. As quoted in the press release: GlobalTop’s GNSS embedded module portfolio will become part of the Sierra Wireless OEM Solutions product line, and the GNSS staff from …
Sierra Wireless (NASDAQ:SWIR; TSX:SW) has announced it has completed the acquisition of all the assets of GlobalTop Technology’s Global Navigation Satellite System (GNSS) embedded module for $3.2 million.
As quoted in the press release:
GlobalTop’s GNSS embedded module portfolio will become part of the Sierra Wireless OEM Solutions product line, and the GNSS staff from GlobalTop will join Sierra Wireless. GlobalTop’s GNSS products generated approximately $5.0 million U.S. in revenue during the last 12 months, and the business is approximately breakeven.
“With a wide array of modules and established sales channels, as well as a proven engineering team, we believe that the GlobalTop GNSS business is an important addition to Sierra Wireless,” said Dan Schieler, Senior Vice President and General Manager, OEM Solutions, Sierra Wireless. “Building on our portfolio of Cellular, WiFi and Bluetooth modules, we will have additional products to offer to our customers in markets where positioning data is critical, including high-value asset tracking, telematics, drones and automotive.”