Fibocom, a worldwide supplier of web of issues (IoT) wi-fi resolution and wi-fi communication modules, has reached an settlement with three funding establishments to accumulate the automotive embedded module product line of Sierra Wireless via its three way partnership firm.
The funds shall be used to accumulate the automotive embedded module property of Sierra Wireless via Rolling Wireless (H.Okay) Ltd., the subsidiary of Rolling Wireless Technology Co., Ltd. After the acquisition, the three way partnership firm Rolling Wireless (H.Okay.) Limited will function the worldwide automotive embedded module enterprise independently.
Fibocom signed an settlement with three skilled funding establishments — Shenzhen Capital Group Co., Ltd., Shenzhen Jianxin Huaxun Equity Fund Management Co., and Shenzhen Qianhai Red Earth M&A Fund Partnership (Limited Partnership) — planning to collectively improve funding in Rolling Wireless Technology Co., Limited, a three way partnership firm invested in by the 4 events.
According to a Fibocom press launch, “As an important milestone in Fibocom’s globalization, this strategic move will strengthen Fibocom’s industrial advantage in the IoT sector and will help to further enhance its global market share in the automotive embedded module business.”
“We have been dedicated to providing high-speed, stable and reliable embedded wireless modules to the IoT industry for more than twenty-one years,” mentioned Zhang Tianyu, chairman of Fibocom. “The acquiring will allow us to dive deeper into the automotive vertical industry and continue to provide more market-oriented high-performance embedded wireless modules and total IoV solutions for global customers in the automotive industry.”