• Fri. May 24th, 2024

Sierra Wi-fi Completes Divestiture of Offender Checking Business enterprise for US$37.6 Million

VANCOUVER, British Columbia, April 18, 2022–(Business WIRE)–Sierra Wireless (NASDAQ: SWIR) (TSX: SW) (the “Organization”), a planet top IoT remedies supplier, currently declared it has signed and closed a definitive agreement to divest its Omnilink offender checking small business for US$37.6 million in income. The purchaser of the business enterprise is Anaheim-dependent Sentinel Edge LLC which is wholly owned by Bison Money Asset Administration LLC.

Omnilink gives mobile connectivity products and services, major edge 4G ankle bracelets, and a cloud-primarily based program tracking system. Pursuing the near of the transaction, Sierra Wi-fi will continue to deliver Omnilnk with connectivity companies and embedded modules for the ankle bracelets.

“The sale of Omnilink unlocks price of a non-core asset and strengthens our harmony sheet,” mentioned Phil Brace, President and CEO of Sierra Wi-fi. “We search forward to continuing to operate intently with Sentinel as a valuable, developing purchaser.”

Omnilink’s income in 2021 was US$13.1 million. Sierra Wi-fi expects around 27 of its personnel will come to be employees of Sentinel Advantage LLC. The sale of Omnilink is topic to regular functioning money adjustments.

The Corporation will deliver supplemental details about the transaction on May perhaps 11, 2022 through its 1st Quarter 2021 earnings convention contact.

Telegraph Hill Advisors LLC acted as financial advisors to Sierra Wireless and Blake, Cassels & Graydon LLP acted as authorized counsel. Sheppard Mullen acted as legal counsel for each Sentinel Edge and Bison Cash.

About Sierra Wi-fi

Sierra Wi-fi (NASDAQ: SWIR) (TSX: SW) is a planet main IoT solutions provider that brings together units, network providers, and application to unlock value in the linked financial state. Companies globally are adopting 4G, 5G, and LPWA answers to enhance operational efficiency, create much better buyer ordeals, improve their business enterprise types, and create new earnings streams. Sierra Wireless will work with its clients to develop the suitable marketplace-specific solution for their IoT deployments, no matter whether this is an built-in answer to help link edge equipment to the cloud, a software package/API services to handle processes with billions of linked assets, or a system to extract true-time details to enhance business decisions. With more than 25 decades of cellular IoT practical experience, Sierra Wi-fi is the world wide lover buyers rely on to produce them their upcoming IoT alternative. For a lot more information, check out www.sierrawireless.com.

Join with Sierra Wi-fi on the IoT Weblog at http://www.sierrawireless.com/iot-web site, on Twitter at @SierraWireless, on LinkedIn at https://www.linkedin.com/business/sierra-wireless and on YouTube at https://www.youtube.com/SierraWireless.

“Sierra Wireless” is a registered trademark of Sierra Wireless, Inc. Other products or assistance names described herein may be the trademarks of their respective house owners.

Ahead Hunting Statements

This press launch consists of ahead-on the lookout statements. When made use of in this press release, the words “strategy”, “expect”, “consider”, and comparable expressions generally determine ahead-seeking statements. These statements replicate our current expectations but include risks and uncertainties. These statements could relate to, among other issues: strategies and timing for the introduction or improvement of our items and services, plans to provide ongoing products and services to Omnilink Sentinel Offender Providers LLC, the transition of certain employees to Sentinel Offender Solutions LLC, and other anticipations, intentions, and ideas that are not historical actuality. These statements are matter to numerous dangers and uncertainties encompassing our business enterprise and the marketplaces we function in, together with, but not constrained to, source ailments, upcoming current market problems, alterations in technological innovation and market ailments and our capacity to implement our approach and productively develop, manufacture and supply new products and solutions and services. A additional discussion of the dangers and uncertainties dealing with Sierra Wi-fi are discussed in its Yearly Data Kind and Management’s Discussion and Investigation of Economical Problem and Benefits of Functions, which might be found on SEDAR at www.sedar.com and on EDGAR at www.sec.gov and in Sierra Wireless’ other regulatory filings with the Securities and Trade Fee in the United States and the provincial securities commissions in Canada. Owing to these numerous challenges and uncertainties we are unable to guarantee you that the forward-wanting statements contained in this press launch will be realized. Other than as may perhaps be demanded by applicable securities rules, Sierra Wi-fi assumes no obligation to publicly update or revise any ahead-seeking statements produced herein or usually, whether as a result of new info, long run activities or usually.

See source version on businesswire.com: https://www.businesswire.com/news/house/20220418005181/en/


David Climie
Sierra Wireless
Investor Relations
[email protected]