Semtech sees US approval for Sierra Wireless deal
Semtech expects its $1.2bn acquisition of Sierra Wireless to complete next week after the end of the waiting period under US antitrust legislation.
Semtech and Sierra each received a request for additional information and documentary material from the Antitrust Division of the US Department of Justice after the deal as announced in August last year. Both companies were notified today that the waiting period specified in the Hart-Scott-Rodino Antitrust Improvements Act of 1976 had been terminated.
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As a result they expect the deal to close on or about January 12, 2023.
The deal adds cellular wireless modules, software and device management to Semtech’s range of low power wide area network (LPWAN) technology based around the LoRa standard.
This significantly expands Semtech’s addressable market across the Internet of Things (IoT) with a range of cellular IoT modules alongside its LoRa low power wireless chips. As a result the company expects to double its revenue with cloud and software services.