Sierra Wireless closes $21 mln buy of VC-backed In Motion Technology
Sierra Wireless (NASDAQ: SWIR) (TSX: SW) has completed its purchase of mobile enterprise solutions provider In Motion Technology Inc for US$21 million in cash. Sierra Wireless said the deal will allow the combined businesses to provide the broadest choice of device-to-cloud solutions to enterprise customers. The acquisition of the Vancouver-based In Motion Technology also provides exits to British Columbia Discovery Fund VCC, managed by Canadian venture capital firm Discovery Capital Management Corp, and BC Advantage Funds VCC. Founded in 2002, the company has been venture-backed since 2005.
5 March 2014•3 mins read
