Sierra Wireless announced Monday that it has completed the acquisition of substantially all of the assets of GlobalTop Technology’s Global Navigation Satellite System (GNSS) embedded module business for total cash consideration of approximately $3.2 million, subject to working capital adjustments.
This acquisition expands Sierra Wireless’ embedded solutions for markets including high-value asset tracking, telematics, drones and automotive.
GlobalTop’s GNSS embedded module portfolio will become part of the Sierra Wireless OEM Solutions product line, and the GNSS staff from GlobalTop will join Sierra Wireless.
GlobalTop’s GNSS products generated approximately $5.0 million U.S. in revenue over the last one year, and the business is approximately breakeven.
“With a wide array of modules and established sales channels, as well as a proven engineering team, we believe that the GlobalTop GNSS business is an important addition to Sierra Wireless,” said Dan Schieler, senior vice president and general manager, OEM Solutions, Sierra Wireless. “Building on our portfolio of Cellular, WiFi and Bluetooth modules, we will have additional products to offer to our customers in markets where positioning data is critical, including high-value asset tracking, telematics, drones and automotive.”