Sierra Wireless completes acquisition of MobiquiThings

Vancouver, Canada-September 02, 2015

Sierra Wireless (NASDAQ: SWIR) (TSX: SW) today announced that it has completed the acquisition of MobiquiThings, a leading European mobile virtual network operator, based in France. Details of the acquisition were first announced on June 24, 2015.

MobiquiThings is an MVNO focused on managed connectivity services for the Internet of Things, with broad segment experience including the energy, transportation, security, retail, and healthcare markets. It offers a unique technology platform that includes MobiquiSIM, a dynamic attachment service that provides its customers with superior radio access network coverage and industry-leading quality of service (QoS), as well as SIM provisioning and management for 2G, 3G, and 4G connectivity. The company has more than 75 customers, which together comprise more than 100,000 wireless connectivity subscriptions.    

Sierra Wireless has purchased all of the shares of MobiquiThings for €14 million in cash, subject to certain post-closing adjustments, plus a performance-based earnout formula that extends into 2017.

About Sierra Wireless

Sierra Wireless (NASDAQ: SWIR) (TSX: SW) is building the Internet of Things with intelligent wireless solutions that empower organizations to innovate in the connected world. We offer the industry’s most comprehensive portfolio of 2G, 3G and 4G embedded modules and gateways, seamlessly integrated with our secure cloud and connectivity services. OEMs and enterprises worldwide trust our innovative solutions to get their connected products and services to market faster. Sierra Wireless has more than 1,000 employees globally and operates R&D centers in North America, Europe and Asia. For more information, visit www.sierrawireless.com. 

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