August 2, 2017 / 9:31 PM / a year ago

BRIEF-Sierra Wireless to acquire Numerex for ‍$107 million​

Aug 2 (Reuters) - Numerex Corp:

* Sierra wireless to acquire numerex corp.

* Deal for ‍US$107 million

* Deal for ‍$107 million​ based on Sierra Wireless’ closing stock price on Aug. 1 of $29.65/share ​

* Co’s shareholders will receive a fixed exchange ratio of 0.18 common shares of sierra wireless for each share of Numerex common stock​

* Upon completion of deal, Numerex shareholders will own approximately 10 percent of common shares of Sierra Wireless on a fully diluted basis​

* Says Sierra Wireless expects acquisition to be accretive to non-GAAP EPS approximately twelve months after close of transaction

* Board of directors of Sierra Wireless has unanimously approved transaction

* Numerex corp says upon completion of transaction, Numerex will become a subsidiary of sierra wireless

* Says board of directors of numerex has unanimously approved transaction Source text for Eikon: Further company coverage:

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