Wavecom Acquires Sony Ericsson’s M2M Business
In a cash transaction that will be valued up to a maximum of €32.5 M, Wavecom SA, a leader in embedded wireless communications platforms for automotive, industrial (machine-to-machine) and mobile professional applications, and Sony Ericsson Mobile Communications AB, have signed an agreement whereby Wavecom acquires certain assets of Sony Ericsson’s M2M Communications Business Unit.
This business unit specializes in industrial and automotive wireless solutions and includes the new GX64 GSM/GPRS product family, the GX47/48 GSM/GPRS product family and the CM42/52 CDMA/1xRTT product family, as well as the company’s global assets and activities in M2M research and development, marketing and sales. However, the transaction does not include any assets or activities related to Sony Ericsson’s mobile phones, accessories, or PC card business, which will remain a part of Sony Ericsson.
The combination of these two businesses offers numerous synergies and benefits, specifically in scale and geographic presence. In particular, Sony Ericsson will bring to Wavecom a solid customer base from the North American automotive and fleet management market that should further reinforce Wavecom’s already diverse automotive customer base in Europe.