Fibocom, a leading global provider of IoT (Internet of Things) wireless solution and wireless communication modules, has reached an agreement to acquire the automotive embedded module product line of Sierra Wireless through its joint venture company.
Fibocom signed an agreement with three professional investment institutions to jointly increase investment in Rolling Wireless Technology, a joint venture company. The funds will be used for the acquisition of the automotive embedded module assets of Sierra Wireless through Rolling Wireless, the subsidiary of Rolling Wireless Technology. After the acquisition, the joint venture company Rolling Wireless will operate the global automotive embedded module business independently.
As an important milestone in Fibocom’s globalization, this strategic move will strengthen Fibocom’s industrial advantage in IoT sector and will help to further enhance its global market share in the automotive embedded module business.
Zhang Tianyu, Chairman of Fibocom
The acquiring will allow us to dive deeper into the automotive vertical industry and continue to provide more market-oriented high-performance embedded wireless modules and total IoV solutions for global customers in the automotive industry.
