Semtech to buy Sierra Wireless in $1.2 bln deal

Aug 2 (Reuters) – Semiconductor supplier Semtech Corp (SMTC.O) will acquire Canada's Sierra Wireless Inc (SW.TO) in a deal valued at $1.2 billion, the companies said on Tuesday.

Semtech will acquire all shares of Sierra Wireless for $31 per share in an all-cash deal, according to a statement.

"Internet of things" solutions provider Sierra said earlier in the day that it was in advanced discussion with Semtech about a possible deal.

Reporting by Ankur Banerjee in Bengaluru; Editing by Maju Samuel

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Source:www.reuters.com