Communications equipment manufacturer Sierra Wireless Inc is looking for acquisitions in the market. Currently, its technology is able to connect cars and coffee machines to the Internet and now it is seeking to have the same synergy with air compressors and other industrial machinery.
According to Sierra Wireless CEO Jason Cohenour, it is planning to expand further into machine to machine communications or M2M. He added that the company is searching in the North American and European markets for hardware and software specialists that would help companies connect to machines.
This the so-called Internet of everything or the global machine to machine communications industry, is projected to double its size in the next five years with a value of over USD200 billion worldwide. The projections made by ABI Research say that the machine connections would outgrow demand for smartphones and tablets. Currently, Cohenour said that the firm has CAD176.6 million or USD172 million in cash available after it had sold off its mobile modern business for laptops, making the firm poised to buy and acquire in the market.
In a telephone interview last October 18, Cohenour said, "Over time, ever machine that can benefit from being connected will be connected in some way. We want to be the leader."
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