Fibocom 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.
According to the company, this move will strengthen Fibocom's industrial advantage in the IoT sector and will help to further enhance its global market share in the automotive embedded module business.
For more information, visit www.sierrawireless.com or http://www.fibocom.com/news_view.aspx?TypeId=4&Id=449&Fid=t2:4:2
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