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March 20, 2006
Wavecom firms up its M2M shift with acquisition
France’s Wavecom said today it acquired Sony Ericsson Mobile Communications' machine-to-machine communication business unit for €32.5M. The French wireless equipment maker, once a tech stock high-flyer, originally made mobilephone systems. After several years of losses it restructured its business, returned to profitability in 2005, and has shifted its focus away from cellphones to the higher margin M2M business, targeting industry, point of sales, and automobile applications.
This acquisition is in line with that plan. Its current market cap of €166 is just slightly higher than last year's sales of €130M.
Posted on March 20, 2006 02:53 PM | Posted to Wireless | Permalink
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