Sierra Wireless France successfully completes tender for Wavecom Oceane convertibles

By Lisa Kerner

Charlotte, N.C., Feb. 18 - Sierra Wireless France SAS announced that 2,571,022 Oceane convertible bonds, or 99.97% of the outstanding Oceanes, were tendered in its offer for Wavecom SA, according to a form 6-K filed with the Securities and Exchange Commission.

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

Sierra Wireless France said 13,353,912 ordinary shares, or 84.34% of Wavcom's outstanding shares, were also tendered.

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.

Sierra 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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