LONDON Gemalto is making an offer to buy Wavecom in an effort to expand its business in the machine-to-machine market. It is offering €7 for each Wavecome share, a premium of 72 percent over the last closing price.
“Machine to machine is an attractive and growing market, with the opportunity to connect billions of devices, and Wavecom is at the forefront of this industry,” said Olivier Piou, Gemalto's chief executive officer. “Gemalto will provide Wavecom with the scale and resources to capture the full growth potential of M2M, and give its employees a truly global reach and working environment.”
Wavecom is a provider of embedded wireless technology for M2M communications with a range of GSM/GPRS, CDMA, EDGE and 3G Wireless CPUs as well programmable processors which also act as wireless modules or wireless modems. These are backed by a C and Lua-based cellular wireless software suite which includes a real-time operating system, a software development environment based on Eclipse, and several plug-ins such as GPS, TCP/IP, security, Bluetooth, and Lua script.
Founded in 1993 and headquartered near Paris, France, Wavecom is publicly traded on Euronext Paris’ Eurolist in France (AVM) and on the NASDAQ exchange in the U.S.