Sierra Wireless France completes tender for Wavecom ordinary shares, Oceanes

By Lisa Kerner

Charlotte, N.C., Feb. 18 - Sierra Wireless France SAS said 13,353,912 ordinary shares, including ordinary shares represented by American Depositary Shares, or 84.34% of outstanding Wavecom SA shares, were tendered in Sierra Wireless France's offer ended Feb. 12.

In addition, 2,571,022 Oceane convertible bonds were tendered, representing 99.97% of the outstanding Oceanes, it was reported in a form 6-K filed with the Securities and Exchange Commission.

Wavecom agreed to be acquired by Sierra Wireless, Inc. for €8.50 per ordinary share and €31.93 per Oceane convertible bond, or a total purchase price of about €218 million, it was previously reported.

The French stock market authority, the Autorité des marchés financiers, is expected to announce final results of the offers by Feb. 25, with payment and settlement expected on or around March 3, the filing said.

"We are very pleased with the results of the tender offers and we are excited about Sierra Wireless and Wavecom joining forces," Sierra Wireless president and chief executive officer Jason Cohenour said in the filing.

"Based on the complementary nature of the businesses, we expect a fast integration with very little impact on operations."

Sierra Wireless is a modem and software company based in Richmond, B.C. Wavecom is an Issy-Les-Moulineaux, France-based wireless communications provider.

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