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Wireless

Sierra Wireless exits auto business, sells Chinese production line to Fibocom

Friday 24 July 2020 | 09:46 CET | News
Sierra Wireless announced a definitive agreement to divest its automotive embedded module product line for USD 165 million in cash. The deal is expected to improve its balance sheet and provide funds to expand its R&D centre in Canada working on IoT and 5G products. The purchaser, Rolling Wireless, is a consortium led by Fibocom Wireless of Shenzhen, where the auto module production line is based. 

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Categories: Mobile & Wireless
Companies: Fibocom / Sierra Wireless
Countries: China / World
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