Sierra Wireless and AirLink Communications Amend Merger Agreement Terms
Uncategorized May 9th, 2007
Sierra Wireless and AirLink Communications Amend Merger Agreement Terms
Sierra Wireless, Inc. announced today that it has agreed with AirLink Communications, Inc. (”AirLink”) to amend the terms of the agreement to acquire AirLink. AirLink is a privately-held developer and supplier of high value fixed, portable and mobile wireless data solutions for industrial and public safety applications.
The amended terms include an increase in the cash consideration to be paid by Sierra Wireless to the shareholders of AirLink from $10.0 million to $11.0 million, subject to customary closing adjustments. The number of Sierra Wireless shares to be issued to the shareholders of AirLink remain unchanged at approximately 1.3 million. As previously disclosed, we expect to close the acquisition by the end of June 2007, with the possibility of it closing as early as the end of May 2007.
About Sierra Wireless
Sierra Wireless develops and markets wide area wireless solutions for mobile computing. The Sierra Wireless product portfolio includes the award-winning AirCard(R) line of wireless modems, embedded modules for original equipment manufacturers (OEMs), and the MP line of rugged, vehicle-mounted wireless modems. Sierra Wireless also offers professional services to OEM customers during product development, leveraging the company’s expertise in wireless design and integration to provide built-in wireless connectivity for notebook computers and other portable computing devices. Sierra Wireless is headquartered in Richmond, British Columbia, Canada, with additional offices in Carlsbad, California, London, and Hong Kong. For more information about Sierra Wireless, please visit http://www.sierrawireless.com/.
“AirCard” is a registered trademark and “AirCard Enabled” is a trademark of Sierra Wireless. Other product or service names mentioned herein may be the trademarks of their respective owners.
CONTACT: Sierra Wireless, Inc., David G. McLennan, Chief Financial Officer, (604) 231-1185, Website: http://www.sierrawireless.com/, Email: dmclennan {at} sierrawireless(.)com
Sierra Wireless, Inc.
CONTACT: Sierra Wireless, Inc., David G. McLennan, Chief FinancialOfficer, (604) 231-1185, Website: http://www.sierrawireless.com/, Email:dmclennan {at} sierrawireless(.)com
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