Sierra Wireless has acquired Vancouver's In Motion Technology for $21 million in cash.
The deal, which is expected to close in March, will see the companies' complementary product portfolios together provide a broad choice of device-to-cloud solutions for enterprise customers, from simple gateways to full featured mobile routers, as well as a suite of cloud services and applications.
“In Motion will strengthen our leadership position in M2M and broaden our Enterprise Solutions portfolio,” said Jason Cohenour, President and CEO of Sierra Wireless, which is also headquartered in Vancouver. “The Sierra Wireless and In Motion businesses are highly complementary, and together will hold a unique competitive position."
"We will have the products, channels, and technology needed to offer the most comprehensive suite of solutions to our customers and expand our market share in high growth, high value markets such as public safety and commercial fleets," he added.
“We are experiencing unprecedented growth in the market for mobile enterprise solutions, and joining forces with the clear industry leader will enable the combined organization to capture a greater share of the opportunity,” noted Dean Rockwell, CEO of In Motion Technology.
“We are excited to join the Sierra Wireless team and we look forward to being able to deliver even greater value to our customers with the expansion of our solutions offering and global footprint," he added.
During 2013, In Motion generated $15 million with a gross margin of 50%.