NETGEAR Acquires Sierra Wireless AirCard

San Jose-based networking equipment manufacturer NETGEAR said Monday that it has acquired selected assets and operations of the AirCard business of Sierra Wireless. The deal is worth approximately $138M in cash. NETGEAR said that the AirCard business had a 12 month trailing net revenue run rate of approximately $247 million through December 2012. NETGEAR said it expects to add 160 employees, located in Carlsbad, California and Richmond, British Columbia, at completion of the deal.