ATLANTA, Dec. 06, 2017 (GLOBE NEWSWIRE) -- Numerex Corp. (NASDAQ:NMRX) announced today that, at its special meeting of shareholders (the “Special Meeting”) held today, a majority of the votes cast, which also represented a majority of the outstanding shares of the Company’s common stock, voted to approve the adoption of the previously announced Agreement and Plan of Merger, dated as of August 2, 2017, by and among the Company, Sierra Wireless, Inc. and Wireless Acquisition Sub, Inc.
Upon completion of the merger, Numerex shareholders will receive a fixed exchange ratio of 0.1800 common shares of Sierra Wireless for each share of Numerex common stock. Subject to the satisfaction of the remaining closing conditions, the Company, Sierra Wireless and Merger Sub currently anticipate to close the merger on December 7, 2017.
About Numerex Corp.
Numerex Corp. is a leading provider of enterprise solutions enabling the Internet of Things (“IoT”). Numerex’s solutions produce new revenue streams or create operating efficiencies for its customers. Numerex provides its technology and services through its integrated platforms, which are generally sold on a subscription basis. Numerex offers a portfolio of managed end-to-end IoT solutions including smart devices, network connectivity and service applications capable of addressing the needs of a wide spectrum of vertical markets and industrial customers. Numerex’s mission is to empower enterprise operations with world-class, managed IoT solutions that are simple, innovative, scalable, and secure. For additional information, please visit www.numerex.com.