Sierra Wireless Makes Friendly Bid for Wavecom.

The article reports on the $275 million takeover offer of Sierra Wireless Inc. for Wavecom. Offer is valued at 8.5 euros a share and 31.93 euros convertible bond which is higher than the bid of Gemalto NV. Wavecom previously rejected the offer of Gemalto saying it did not reflect the strategic value of the company. The article also notes that Wavecom founders agreed to tender their shares comprising 20 percent capital of Wavecom with Sierra Wireless.