Gemalto, a European-based company known in the security industry for providing smart card technology, announced today that it has officially terminate its offer for Wavecom, a machine-to-machine wireless technology provider. The termination was made in accordance with the French Financial Markets Authority general regulations, and the offer is withdrawn in both France and the U.S.
Wavecom, it was announced separately in December, would be acquired by Sierra Wireless. Sierra Wireless' offer was for $276.5 million, which was a higher share price than Gemalto's offer.