Semtech Corporation and Sierra Wireless, Inc. announced today the completion of Semtech’s acquisition of Sierra Wireless in an all-cash transaction valued at approximately US$1.2 billion. This transaction nearly doubles Semtech’s annual revenue and adds approximately US$100 million in recurring revenue from high-margin IoT Cloud services. Semtech anticipates that the acquisition will be immediately accretive to non-GAAP earnings per share and will generate US$40 million in run-rate operational synergies within 12-18 months of closing.

Semtech Corporation and Sierra Wireless, Inc. announced today the completion of Semtech’s acquisition of Sierra Wireless in an all-cash transaction valued at approximately US$1.2 billion. This transaction nearly doubles Semtech’s annual revenue and adds approximately US$100 million in recurring revenue from high-margin IoT Cloud services. Semtech anticipates that the acquisition will be immediately accretive to non-GAAP earnings per share and will generate US$40 million in run-rate operational synergies within 12-18 months of closing.

Semtech Corporation (Nasdaq: SMTC) is a high-performance semiconductor, IoT systems and Cloud connectivity service provider dedicated to delivering high quality technology solutions that enable a smarter, more connected and sustainable planet. Our global teams are dedicated to empowering solution architects and application developers to develop breakthrough products for the infrastructure, industrial and consumer markets.