Sierra Wireless is set to acquire Wireless Maingate, a Sweden-based provider of machine-to-machine (M2M) connectivity and data management services, for $90 million.
“The acquisition of Maingate is a strong strategic fit for Sierra Wireless, helping us to accelerate our device-to-cloud mission with the addition of leading edge wireless M2M connectivity and managed services,” said Jason Cohenour, Sierra Wireless President and CEO.
Maingate provides managed M2M connectivity and information management services to more than 500 customers across Europe, reaching a subscriber base of more than 500,000 connected devices. Maingate expects to clock 2014 revenue of over $19 million and EBITDA of $6 million.
Together, Sierra Wireless and Maingate will be able to offer customers in Europe complete device-to-cloud solutions, with fully integrated hardware, embedded software development tools, cloud-based application development, device and subscription management, and wireless services.