Sierra Wireless acquires GlobalTopâ€™s GNSS module business
April 11, 2017
Sierra Wireless, a Canada-based provider of integrated device-to-cloud products for the IoT, has completed the acquisition of nearly all the assets of Taiwanese company GlobalTop Technology’s GNSS embedded module business for around $3.2m, subject to working capital adjustments.
GlobalTop’s GNSS embedded module portfolio will become part of the Sierra Wireless OEM product line, and the GNSS staff from GlobalTop will join Sierra Wireless. GlobalTop’s GNSS products generated approximately $5m in revenue during the past 12 months, and the business is approximately breakeven.
“With a wide array of modules and established sales channels, as well as a proven engineering team, we believe that the GlobalTop GNSS business is an important addition to Sierra Wireless,” said Dan Schieler, senior vice president at Sierra Wireless. “Building on our portfolio of cellular, wifi and Bluetooth modules, we will have additional products to offer to our customers in markets where positioning data are critical, including high-value asset tracking, telematics, drones and automotive.”
Sierra Wireless has more than 1000 employees globally and operates R&D centres in North America, Europe and Asia.
Founded in 2006, GlobalTop is based in the Southern Taiwan Science Park, its 4500 square metre manufacturing facility has tight quality control and access to the best supply chain in Taiwan.