Semtech Corporation And Sierra Wireless Announce Termination Of The Waiting Period Under The HSR Act

Semtech Corporation (NASDAQ:SMTC) (“Semtech”) and Sierra Wireless, Inc. (NASDAQ:SWIR) (TSX:SW) (“Sierra”) today announced the termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”).

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As previously disclosed on October 18, 2022, Semtech and Sierra each received a request for additional information and documentary material (the “Second Request”) from the Antitrust Division of the U.S. Department of Justice (the “DOJ”) in connection with the DOJ’s review of Semtech’s pending acquisition of Sierra (the “Transaction”). On January 5, 2023, Semtech and Sierra were notified that the waiting period had been terminated.

The parties currently anticipate that the closing of the Transaction will occur on or about January 12, 2023, subject to the satisfaction (or, to the extent permitted by applicable law, waiver) of the closing conditions set forth in the Arrangement Agreement that by their nature are to be satisfied at the closing of the Transaction.