- Sierra Wireless (NASDAQ:SWIR) is buying MobiquiThings, a French provider of managed connectivity services for M2M/IoT devices to European companies, for €14M ($15.6M) in cash.
- MobiquiThings provides its services by acting as an MVNO; devices receiving its connectivity services rely on proprietary SIM cards. The company claims 75+ customers and 100K+ wireless connectivity subscriptions. With MobiquiThings expected to produce 2015 revenue of €3M ($3.4M), Sierra is paying less than 5x forward sales.
- Sierra calls the purchase "highly complementary" to last year's $90M acquisition of Swedish M2M connectivity/messaging services firm Wireless Maingate, and says MobiquiThings services will be integrated with both Maingate's and Sierra's AirVantage M2M cloud software/services solution.
- In May, the company announced a deal to buy U.S. M2M connectivity services firm Accel Networks.