Richmond-based Sierra Wireless Inc. (Nasdaq:SWIR) has completed its $11 million acquisition of privately-held AirLink Communications Inc.
The deal originally announced in early March is part of Sierra Wireless' plan to expand its product line with higher gross margin products. California-based AirLink had a 25% increase in annual revenue to $24.8 million in 2006, compared with revenue of $19.8 million in 2005.
AirLink will be fully integrated into Sierra Wireless with a management team from both companies. Andrew Berman, AirLink's CEO, will become senior vice-president and general manager of Sierra Wireless' Mobile and M2M business segment. Sierra Wireless' share price during the past week ranged between $19.86 and $20.37. The 52-week high: $20.69; the 52-week low: $10.58.