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SWIR - SWIR STOCK NEWS

Welcome to our dedicated page for SWIR news (Ticker: SWIR), a resource for investors and traders seeking the latest updates and insights on SWIR stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect SWIR's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of SWIR's position in the market.

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Semtech Corporation (SMTC) has successfully completed its acquisition of Sierra Wireless (SWIR) for approximately US$1.2 billion. This strategic move nearly doubles Semtech’s annual revenue and adds around US$100 million in recurring IoT Cloud service revenues. The acquisition is expected to enhance Semtech’s market position in the Internet of Things (IoT) sector, with an anticipated expansion of its market opportunity to US$10 billion by 2027. The deal is projected to provide US$40 million in run-rate operational synergies within 12-18 months.

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Semtech Corporation (NASDAQ: SMTC) and Sierra Wireless, Inc. (NASDAQ: SWIR) announced the termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act regarding Semtech's acquisition of Sierra. Following a request for additional information from the U.S. Department of Justice in October 2022, the companies were notified that the waiting period ended on January 5, 2023. The closing of the transaction is anticipated on or about January 12, 2023, pending satisfaction of closing conditions.

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Sierra Wireless has announced its contribution to FirstNet, providing a full device-to-cloud solution for first responders and the public safety community. The solution integrates FirstNet connectivity with its modules and routers, designed to ensure reliable and secure communication during emergencies. Sierra Wireless has been involved in the FirstNet Embedded IoT Program since 2018, ensuring its devices meet strict standards for reliability and performance. The offering also includes the AirVantage IoT connectivity platform, enhancing management capabilities for users.

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Sierra Wireless reported Q3 2022 results, with revenue of $166.1 million, up 101.4% year-over-year, driven by strong demand and inventory investments. Gross margin improved to 34.1%, up from 29.3% a year earlier. Net loss from continuing operations was $10.3 million, significantly lower than $38.4 million in Q3 2021. Adjusted EBITDA reached $15.4 million, compared to a loss of $15.0 million. However, connectivity revenue fell 17.8% due to network shutdowns. The company is undergoing an acquisition by Semtech Corporation, with shareholders set to receive $31 per share.

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Sierra Wireless (NASDAQ: SWIR) will announce its Third Quarter financial results for the period ending September 30, 2022, on November 10, 2022. The company will not host a conference call or webcast for this announcement. Sierra Wireless is a leading provider of IoT solutions, focusing on devices, network services, and software. With over 25 years of experience, the company helps businesses improve efficiency and create new revenue streams through cellular IoT technology.

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Semtech Corporation (Nasdaq: SMTC) and Sierra Wireless, Inc. (Nasdaq: SWIR) have received a second request for information from the U.S. Department of Justice regarding Semtech's acquisition of Sierra Wireless. This request extends the review period under the Hart-Scott-Rodino Act until 30 days after both companies comply with the request. Semtech has also obtained a no-action letter from the Canadian Competition Bureau, with an agreement to close the transaction by March 3, 2023, unless extended.

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Semtech Corporation (SMTC) has confirmed that Sierra Wireless, Inc. (SWIR) securityholders approved the acquisition of all outstanding shares of Sierra Wireless by Semtech through its wholly-owned subsidiary. The acquisition, structured as a statutory plan of arrangement, is pending necessary antitrust and competition approvals in the U.S. and Canada, and approval from the Supreme Court of British Columbia. A court hearing is set for September 29, 2022, with the acquisition expected to complete within Semtech's fiscal year 2023.

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Sierra Wireless shareholders approved the acquisition of all outstanding shares by 13548597 Canada Inc., a subsidiary of Semtech Corporation. The special resolution received 98.60% and 98.69% approval from different classes of securityholders. The arrangement awaits antitrust approvals in the U.S. and Canada and requires final court approval, with a hearing set for September 29, 2022. Post-transaction, Sierra Wireless shares will be delisted from Nasdaq and the Toronto Stock Exchange, and the company will cease to be a reporting issuer.

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Blackline Safety has appointed Jason W. Cohenour, former President and CEO of Sierra Wireless, to its Board of Directors. Cohenour brings over 30 years of leadership experience in IoT and mobile communications, having led Sierra Wireless in a successful turnaround that grew revenue by nearly 800% to over CAD $1 billion. His expertise is expected to significantly contribute to Blackline's growth as it continues to innovate in connected safety technology.

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Sierra Wireless (NASDAQ: SWIR) has launched the AirLink® RX55 LTE cellular router, designed for Industrial IoT (IIoT) applications. This solution features ultra-low power consumption and rugged design, making it suitable for remote monitoring in harsh environments. The RX55 supports multi-band networks, offering extensive global coverage. With enhanced security and remote management capabilities, it aims to facilitate secure Industry 4.0 deployments. The market for IIoT is projected to reach approximately $1.69 trillion by 2030.

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FAQ

What is the market cap of SWIR (SWIR)?

The market cap of SWIR (SWIR) is approximately 1.2B.

SWIR

Nasdaq:SWIR

SWIR Rankings

SWIR Stock Data

1.21B
38.45M
Telephone Apparatus Manufacturing
Manufacturing
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Canada
Richmond