TECH - Semtech Confirms the Acquisition of Sierra Wireless for $1.2 Billion.
Sierra Wireless (NASDAQ:SWIR) will be acquired by Semtech (NASDAQ:SMTC) for $31 per share in cash. This gives Sierra Wireless an enterprise value of $1.2 billion. The $31 offer represents a roughly 25% premium above Sierra Wireless’ closing price on July 29, before rumors of a prospective acquisition. Sierra Wireless (SWIR) shares increased by 6.6% after hours to reach $30 per share. Semtech (NASDAQ:SMTC) is up 2.1% following the market close. The transaction has been approved by both boards and is subject to shareholder and regulatory clearance from Sierra Wireless.
The move will substantially extend Semtech’s addressable ...
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Semtech Confirms the Acquisition of Sierra Wireless for $1.2 Billion.