Vancouver-based Sierra Wireless has reached an agreement to acquire rival Wavecom for 218 million euro or about $343 million, a move the two companies say will create "market leader in wireless data, and will be uniquely positioned to benefit from the anticipated growth in wireless data for the mobile computing and M2M markets."

Unlock all the Canadian telecom, broadcasting and digital media news you need.

Take a free trial or subscribe to The Wire Report now.