Sierra Wireless Buys CradlePoint

Sierra Wireless to acquire CradlePoint, developer and supplier of wireless networking products and docking solutions

April 8, 2008

1 Min Read

VANCOUVER -- Sierra Wireless, Inc. (NASDAQ:SWIR)(NASDAQ:TSX:)(NASDAQ:SW) announced today a definitive agreement toacquire CradlePoint, Inc. ("CradlePoint"), a privately-held developer andsupplier of wireless networking products and docking solutions for mobileenterprise, industrial and consumer applications.

CradlePoint is located in Boise, Idaho and currently has 40 full timeemployees. The company is an innovative provider of mobile broadbandnetworking solutions with unique products, including the PHS-300 personalhotspot and MBR-1000 mobile broadband router. CradlePoint achieved revenueof $6.5 million in 2007 and is expected to grow revenue to approximately $25million in 2008.

"The acquisition of CradlePoint is consistent with our strategy ofstrengthening our differentiation and expanding our position in the mobilecomputing value chain", said Jason Cohenour, President and Chief ExecutiveOfficer of Sierra Wireless. "We believe that adding CradlePoint's mobilebroadband networking and docking solutions to our product portfolio extendsour offering and value proposition to mobile operators and vertical OEMcustomers. Furthermore, we believe that the Mobile Broadband Networkingcategory is poised for rapid growth, and that CradlePoint brings innovativemobile networking technology and talent to our team. We view CradlePoint asan important strategic addition to our business."

"By joining forces with Sierra Wireless, CradlePoint gains immediate accessto established global distribution channels, leading edge mobile broadbandtechnology, product marketing expertise, large scale supply chaincapabilities and working capital to drive further growth. We bring aninnovative product line of mobile broadband networking devices powered byour unique WiPipe(TM) platform, and solid relationships with North Americannetwork operators, vertical OEMs, retail channels and applicationproviders", said Pat Sewall, Chief Executive Officer of CradlePoint, Inc."We are enthusiastic about becoming part of the Sierra Wireless team."

Sierra Wireless Inc. (Nasdaq: SWIR; Toronto: SW)

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