Sierra Wireless To Sell AirCard Unit To Netgear For $144.5M

Sierra Wireless this afternoon said it has agreed to sell the assets of its AirCard business to Netgear for $138 million in cash and $6.5 million assumed liabilities. Sierra said it expects cash proceeds of about $100 million from the deal after taxes, expenses and funds held in escrow. The deal is expected to close in March.