Semtech completes acquisition of Sierra Wireless

Semtech (SMTC) and Sierra Wireless (SWIR) "announced the completion of Semtech’s acquisition of Sierra Wireless in an all-cash transaction representing a total enterprise value of approximately $1.2B. This transaction nearly doubles Semtech’s annual revenue and adds approximately $100M of high-margin IoT Cloud services recurring revenues. Semtech expects the acquisition to be immediately accretive to non-GAAP EPS and to generate $40M of run rate operational synergies within 12-18 months post close."