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We have announced exciting news about Sierra Wireless’ future. We have entered into an agreement to combine with Semtech and create a comprehensive IoT platform to enable the transformation to a smarter, more sustainable planet. This is a great development for Sierra Wireless – one that we believe will provide tremendous opportunity for all our stakeholders.
Semtech is a leading global supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. Together, we will create a strong and diverse portfolio of connectivity solutions for the growing IoT market, making it easier for customers to find innovative end to end solutions for any segment.
We’re proud that the progress Sierra Wireless has made has culminated in this exciting transaction and look forward to our future with Semtech. Bringing together two important technologies for the future of IoT – LoRa and Cellular – will enable the digitization of the industrial world with a comprehensive chip-to-Cloud platform.
Given Sierra Wireless’ demonstrated expertise in IoT and cellular engineering, software and services, and its extensive knowledge of IoT channels and vertical markets, Semtech expects the combined company will be well positioned to scale, optimize, and ultimately deliver an even stronger product portfolio and service model and serve high growth segments.
The parties continue to progress towards closing of the transaction, with certain key closing conditions recently satisfied including approval by Sierra Wireless securityholders and the Supreme Court of British Columbia. Looking ahead, the transaction remains subject to certain regulatory approvals, and other customary closing conditions. The transaction is expected to occur in Semtech’s fiscal year 2023, which ends in January 2023. Until the transaction closes, Sierra Wireless and Semtech will continue to operate as separate companies.
This means it is business as usual at Sierra Wireless and our relationships with our customers and suppliers remain unchanged. For our customers, regardless of the products or services you purchase from Sierra Wireless, the channels you purchase those products and services through or the manner in which we continue to provide technical support on those products and services, there will be no immediate changes in how we conduct our business with you. All customer and supplier contacts will remain the same and all contracts will be honored as well.
We hope you share our excitement about our future and look forward to building on our valued relationship.
Updated October 05, 2022