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Sierra Wireless

Summary
Sierra Wireless, Inc., together with its subsidiaries, provides device-to-cloud Internet of Things (IoT) solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, IoT Solutions and Enterprise Solutions. The IoT Solutions segment offers cellular wireless IoT modules that provides original equipment manufacturers (OEMs) with 5G, 4G LTE, third generation/second generation, low power wide area, Wi-Fi, Bluetooth, and global navigation satellite system connectivity; embedded broadband solutions, including industrial-grade modules, which offers speed, bandwidth, and network performance for connecting to 5G and 4G networks; and IoT connectivity services. The Enterprise Solutions segment provides a range of Sierra Wireless AirLink routers, IoT applications and advanced network management, managed network services, and mobility applications. This segment also offers asset, fleet, and cargo tracking services; offender and remote monitoring services; and alarm communications, as well as a cloud platform that comprises reporting and analytics. The company serves enterprises, industrial companies, and OEMs through direct and indirect channels, such as OEMs, distributors, value-added resellers, and mobile network operators. The company was incorporated in 1993 and is headquartered in Richmond, Canada.

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.In August 2008, Sierra Wireless purchased the assets of Junxion, a Seattle based producer of Linux-based mobile wireless access points and network routers for enterprise and government customers.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.In August 2012, the company acquired 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.In January 2013, Sierra Wireless sold 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.In April 2017, Sierra Wireless acquired GlobalTop Technology's GNSS embedded modules business for $3.2 million.In December, 2017, Sierra Wireless acquired Numerex, in a deal estimated at US$107 million.In 2020, Sierra Wireless completed the acquisition of M2M Group in Australia for USD18.4 million and M2M One in New Zealand for USD3.5 million. In 2020 the company also sold its automotive business for USD144 million.

In April 2020, Sierra Wireless appointed Samuel Cochrane as Chief Financial Officer.In November 2020, Sierra Wireless sold its automotive modules division to Rolling Wireless.In July 2021, Sierra Wireless appointed Phil Brace as CEO. In August 2022, Semtech agreed to buy Sierra Wireless in an all-cash transaction valued at US$1.2 billion including debt.


Mission
We are uniquely positioned to provide customers with the products, services and solutions they need to solve problems in new ways and develop new market opportunities.

Vision
To be the global leader in connected solutions that empower businesses and industries to transform and thrive in the connected economy.

Key Team

Mr. James P. Ryan (Sr. VP of Product, Partnerships & Marketing)

Ms. Jennifer A. Farac (Gen. Counsel & Corp. Sec.)

Mr. Pravinchandra Desale (Sr. VP of Engineering)

Mr. David Ian Climie (VP of Investor Relations)

Mr. Steve Harmon (Sr. VP of Global Sales)


Recognition and Awards
Sierra Wireless has been awarded the following accolades: Gartner Magic Quadrant for M2M, GSMA Global Mobile Awards for Best Mobile Innovation for Development, Business Intelligence Group’s BEST Awards for Connected Home Solutions and the IoT Company of the Year 2019.

References
Sierra Wireless
Leadership team

Mr. Philip Gordon Brace (Pres, CEO & Director)

Mr. Samuel C. Cochrane (Chief Financial Officer)

Mr. Roy J. MacLean (Sr. VP of Operations)

Products/ Services
Internet, Internet of Things, Mobile
Number of Employees
1,000 - 20,000
Headquarters
Richmond, British Columbia, Canada
Established
1993
Company Registration
SEC CIK number: 0001111863
Revenue
500M - 1B
Traded as
SWIR
Social Media
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