Sierra Wireless and Wavecom announced today that Wavecom would be purchased by Sierra in a friendly deal. The combination of the two firms will create a global leader in wireless data says the companies. Sierra will be making an all cash offer of EUR8.50 per ordinary share of Wavecom.

The founders of Wavecom who collectively own 21% of the firm will all put up outstanding shares for the offer. The purchase offer is a 21% premium over what the stock was trading for on October 6, 2008. Sierra Wireless expects the purchase to close in Q1 2009.

"Sierra Wireless and Wavecom are a natural match. The two companies share similar histories and a common culture of innovation and technology leadership in wireless data. Joining with Sierra Wireless is a unique opportunity for Wavecom, its customers and employees. Together, the companies are well positioned to provide the most competitive solutions in the market and to become a global leader in wireless data," said Ronald Black, CEO, Wavecom.

Via Sierra Wireless