RBC Capital Upgrades Sierra Wireless (SWIR) to Outperform
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NETGEAR (NTGR) to Acquire Sierra Wireless (SWIR) AirCard Busines in $144.5M Deal
January 28, 2013 4:32 PM ESTSierra Wireless, Inc. (NASDAQ: SWIR) has executed a definitive agreement for the sale of substantially all of the assets and operations related to its AirCard® business to NETGEAR, Inc. (NASDAQM: NTGR) for $138 million in cash plus approximately $6.5 million in assumed liabilities as of December 31, 2012. NETGEAR is a global networking company that delivers innovative products to consumers, businesses, and service providers. Sierra Wireless expects to realize net cash proceeds of approximately $100 million from the asset sale, after related taxes, expenses, and funds held in escrow. The transaction is expected to close in March 2013, subject to customary closing... More
