Sierra Wireless terminates acquisition agreement with CradlePoint

Telecomworldwire,  July 8, 2008  

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TELECOMWORLDWIRE-8 July 2008-Sierra Wireless terminates acquisition agreement with CradlePoint(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com

Sierra Wireless Inc (Nasdaq:SWIR) (TSX: SW), a provider of modems and software for connecting to mobile broadband networks, announced on Monday (7 July) that the company's previously announced agreement to acquire CradlePoint Inc has been terminated.

According to Sierra, the agreement was terminated by the company because a closing condition under the agreement was not met.

The company said that, as a result of the termination, it expects to incur approximately USD700,000 of transaction related expenses in the second quarter of 2008.

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