Canadian company buys Boise tech firm - CradlePoint
| April 9, 2008 |  View for printing |
CradlePoint http://www.cradlepoint.com/ makes wireless networking products for cell phone companies. The fate of local jobs is unknown.
A Canadian wireless equipment company is buying a Boise high-tech company in a stock and cash deal valued at more than $30 million.
Richmond, British Columbia-based Sierra Wireless http://www.sierrawireless.com/ said its purchase of CradlePoint Inc. should close in July.
CradlePoint, which employs 40 people in Boise, develops wireless networking products for the cellular industry, including docking cradles, routers and software programs. The privately held company reported $6.5 million in revenue for 2007 and hopes to increase revenue to $25 million in 2008. The companies' announcement did not say whether any Boise jobs would be affected. A call to CradlePoint's chief executive Tuesday afternoon was not immediately returned.
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