Canadians Snare Aussie group
Vancouver-based Sierra Wireless is to acquire Australian IoT company M2M Group as Sierra looks to expand its IoT systems business in the Asia-Pacific region.
“The business is an excellent strategic fit with our IoT Solutions business, with slightly more than half of the M2M Group’s revenue coming from subscription-based recurring revenue,” Sierra Wireless said.
“This segment of the business has been growing rapidly over the last several years. The M2M Group’s revenue in the last 12 months was US$17.9 million, of which $9.2m was recurring subscription-based revenue.”
M2M announced the move by saying that “Sierra Wireless … are developing leading-edge products and services that will be the cornerstone of our future offerings.
“As a result, the M2M One team will be better placed to provide our personal service, backed by the best available technology.” Sierra Wireless more than 1300 employees globally and operates R&D centres in America, Europe and Asia.