Strong revenue growth in M2M products to $221 million in 2009 and $88.7 million in Q1 2010, takes Sierra Wireless to top position globally
VANCOUVER, Canada June 21, 2010 Sierra Wireless, Inc. (NASDAQ: SWIR; TSX: SW) has dramatically expanded its market share for embedded modules and standalone wireless terminals, and is now the worldwide market leader in cellular Machine-to-Machine ( M2M ) communication devices.
Building on the successful acquisition of Wavecom in March 2009, Sierra Wireless M2M communication devices including AirPrime Intelligent Embedded Modules and AirLink Intelligent Routers and Gateways enjoyed significant revenue growth throughout 2009 and continue to gain momentum in 2010. M2M product revenues totaled $221 million for the full year of 2009 (42 percent of total Sierra Wireless sales), representing the highest revenue of any cellular M2M communication product supplier in the world. In the first quarter of 2010, M2M product revenue increased further to $88.7 million, nearly tripling from the first quarter of 2009, and now accounts for more than half of Sierra Wireless total sales.
The rapid integration of the Wavecom product portfolio, combined with significant product line expansion, has positioned Sierra Wireless as the leading provider with the broadest product offering in the cellular M2M communication market. This includes 2G, 2.5G, 3G and 3.5G embedded modules for both GSM and CDMA networks across a multitude of form factors, including BGA, LGA, castellation, PCI Express MiniCard, and board-to-board connectors, as well as AirLink router, gateway and modem products. To support the development and deployment of large-scale M2M solutions and reduce time-to-market for customers, Sierra Wireless also offers a full set of M2M software and services. These include a comprehensive services platform and an embedded development environment and tool suite, all supported by a globally recognized integration services and technical team.
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