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Michael
Site Admin
Joined: 13 Jan 2005
Posts: 5053
Location: Cary, IL
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 Posted: Mon Jul 07, 2008 7:01 am Post subject: Sierra Wireless Terminates Agreement to Buy CradlePoint |
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| Quote: | VANCOUVER, July 7 /CNW/ - Sierra Wireless, Inc. (NASDAQ: SWIR, TSX: SW)
announced today that the agreement to acquire CradlePoint, Inc. previously
announced on April 7, 2008 has been terminated.
As is customary in agreements of this nature, there are certain
conditions that need to be met prior to closing. One of these conditions has
not been met, resulting in the agreement being terminated by Sierra Wireless.
As a result of the termination, we expect to incur approximately $700,000
of transaction related expenses in the second quarter of 2008. |
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JoeCHecht
EVDO Junkie
Joined: 05 Jan 2008
Posts: 302
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| Posted: Mon Jul 07, 2008 7:50 am Post subject: |
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Perhaps CradlePoint was too busy adding customer requested features?
Adding "Signal Strength As %" to the latest firmware must of been one heck of an engineering effort. Sure impressed Alex!
Joe |
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jackrodgers
EVDO Addict
Joined: 23 Mar 2006
Posts: 1131
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| Posted: Mon Jul 07, 2008 8:50 am Post subject: |
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I would think this is good news since Big Corporations tend to buy good products and then turn them into bad products.
When corporate bean counters make the decisions, product quality tends to deteriorate.
Sierra has so many products that it would seem inevitable that the Cradlepoint router would lose its brilliance... |
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