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Semtech (NASDAQ:SMTC) is in advanced discussions regarding the acquisition of Canadian firm Sierra Wireless (NASDAQ:SWIR), according to a report from Bloomberg Monday.
Semtech, the semiconductor company, could announce a deal “within days,” Bloomberg said its sources had informed them, although no final decision has been made, and it could still fall through.
Semtech supplies analog and mixed-signal semiconductors and advanced algorithms for consumer, enterprise computing, communications and industrial end-markets, while Vancouver-based Sierra designs and manufactures wireless communications equipment.
The report has resulted in Sierra Wireless shares jumping 20% to just under $25 per share. Semtech is down almost 6% during Monday’s session.
