Aug 2 (Reuters) – Semiconductor supplier Semtech Corp ( SMTC.O ) will acquire Canada’s Sierra Wireless Inc ( SW.TO ) in a deal valued at $1.2 billion, the companies said on Tuesday.
Semtech will acquire all of Sierra Wireless’ stock for $31 per share in an all-cash deal, according to a statement.
Internet of things solutions provider Sierra said earlier in the day that it was in advanced discussions with Semtech about a potential deal.
Sign up now for FREE unlimited access to Reuters.com
Reporting by Ankur Banerjee in Bengaluru. Edited by Maju Samuel
Our Standards: The Thomson Reuters Trust Principles.