Sierra Wireless Securityholders Approved Acquisition by Semtech Corporation

Semtech Corporation (NASDAQ:SMTC), a leading global supplier of high performance analog and mixed-signal semiconductors and advanced algorithms, confirmed today that the securityholders of Sierra Wireless, Inc. (NASDAQ:SWIR) (TSX:SW) ("Sierra Wireless") have approved the acquisition (the "Acquisition") of all of the outstanding shares of Sierra Wireless by 13548597 Canada Inc., a wholly-owned subsidiary of Semtech Corporation (the "Company") by way of a statutory plan of arrangement (the "Arrangement") at the special meeting of Securityholders held today. The Arrangement is subject to antitrust and competition approvals in the U.S. and Canada, respectively, the approval of the Supreme Court of British Columbia (the "Court") and other customary closing conditions. The Court hearing for the final order to approve the Arrangement is scheduled to take place on September 29, 2022, and the completion of the Arrangement is expected to occur in the Company's fiscal year 2023.