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, issuing approximately 3.7 million shares to AirPrime shareholders. 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. 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.
On August 5, 2008, Sierra Wireless announced its purchase of the assets of Junxion. Based in Seattle, the company was a producer of Linux-based mobile wireless access points and network routers for enterprise and government customers. Terms of the acquisition were not made public.
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.
On August 1, 2012, the company announced it had completed its acquisition of SAGEMCOM's M2M business in a cash transaction of EUR44.9 million plus assumed liabilities.
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.
On January 28, 2013 it was announced that Sierra Wireless had entered a definitive agreement to sell 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 as of December 31, 2012.
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