Fibocom, a leading global provider of IoT wireless solution and wireless communication modules, has reached an agreement with three investment institutions to acquire the automotive embedded module product line of Sierra Wireless through its joint venture company.
Fibocom signed an agreement with three professional investment institutions, namely SHENZHEN CAPITAL GROUP CO., LTD., Shenzhen Jianxin Huaxun Equity Fund Management Co., and Shenzhen Qianhai Red Earth M&A Fund Partnership (Limited Partnership), planning to jointly increase investment in Rolling Wireless Technology Co., Limited, a joint venture company invested by the four parties.
The funds will be used for the acquisition of the automotive embedded module assets of Sierra Wireless through Rolling Wireless (H.K) Limited, the subsidiary of Rolling Wireless Technology Co., Limited. After the acquisition, the joint venture company Rolling Wireless (H.K.) Limited will operate the global automotive embedded module business independently.
As an important milestone in Fibocom’s globalization, this strategic move will strengthen Fibocom’s industrial advantage in IoT sector and will help to further enhance its global market share in the automotive embedded module business.
Sierra Wireless is a global wireless solutions provider that has been developing wireless technology for the world. Their portfolio consists of wireless devices, including 2G, 3G, and 4G embedded modules and gateways which are seamlessly integrated with their secure cloud and connectivity services.
