Sierra Wireless has decided to acquire MobiquiThings, an MVNO focused on managed connectivity services for the Internet of Things (IoT), for €14 million in cash.
MobiquiThings is expected to generate revenue of approximately €3 million and breakeven Adjusted EBITDA in 2015.
“The purchase of MobiquiThings accelerates our device-to-cloud strategy and is complementary to our acquisition of Wireless Maingate completed in January,” said Jason Cohenour, president and CEO of Sierra Wireless.
MobiquiThings will be integrated with Maingate and our AirVantage cloud to provide managed connectivity service for pan-European customers.
MobiquiThings, which focuses on energy, transportation, security, retail, and healthcare markets, has a technology platform that includes MobiquiSIM, a dynamic attachment service that provides its customers with radio access network coverage and QoS, as well as SIM provisioning and management for 2G, 3G, and 4G connectivity. The company has more than 75 customers and more than 100,000 wireless connectivity subscribers.
