Sierra Wireless Acquires GlobalTop’s GNSS Embedded Module Assets

GlobalTop Titan 2 GNSS module. Photo: GlobalTop

Sierra Wireless announced it has completed the acquisition of substantially all of the assets of GlobalTop Technology’s Global Navigation Satellite System (GNSS) embedded module business for total cash consideration of approximately $3.2 million, subject to working capital adjustments.

GlobalTop’s GNSS embedded module portfolio will become part of the Sierra Wireless Original Equipment Manufacturer (OEM) Solutions product line, and the GNSS staff from GlobalTop will join Sierra Wireless. GlobalTop’s GNSS products generated approximately $5 million in revenue during the last 12 months, and the business is approximately breakeven.