Market Overview

Sierra Wireless, Inc. Completes Acquisition of Numerex Corp.


Sierra Wireless, Inc. ("Sierra Wireless") (NASDAQ:SWIR) (TSX:SW), the
leading provider of fully integrated device-to-cloud solutions for the
Internet of Things (IoT), today completed the previously announced
acquisition of Numerex Corp. ("Numerex") (NASDAQ:NMRX) (the "Merger").

"The acquisition of Numerex accelerates our IoT device-to-cloud strategy
by adding an established customer base, proven solutions and recurring
revenue scale," said Jason Cohenour, President and CEO of Sierra
Wireless. "We are pleased that Numerex stockholders voted in favor of
the transaction on Dec. 6, and believe that the combination of the two
companies creates a clear global leader in IoT services and solutions."

In accordance with the terms of the Agreement and Plan Merger, dated as
of Aug. 2, 2017, by and among Numerex, Sierra Wireless and Wireless
Acquisition Sub, Inc., a wholly-owned subsidiary of Sierra Wireless,
Sierra Wireless issued 3,588,784 common shares as merger consideration
in exchange for all of the outstanding shares of Numerex common stock
and certain outstanding Numerex equity awards and warrants.
Additionally, approximately U.S. $24 million in the aggregate was paid
at closing to retire outstanding Numerex debt and to repurchase an
outstanding Numerex warrant. Including the new shares issued, Sierra
Wireless' number of common shares outstanding has increased to
approximately 35,808,436 shares.

In connection with the completion of the Merger, Numerex has become a
wholly-owned subsidiary of Sierra Wireless and Numerex common stock will
be delisted from the Nasdaq and will be deregistered under the U.S.
Securities Exchange Act of 1934, as amended. Common shares of Sierra
Wireless will continue to trade on both the Nasdaq and the TSX under the
symbols "SWIR" and "SW", respectively.


Blake, Cassels & Graydon LLP, Skadden, Arps, Slate, Meagher & Flom LLP
and Jones Day acted as Sierra Wireless' legal advisors, and Arnold &
Porter Kaye Scholer LLP acted as Numerex's legal advisor. RBC Capital
Markets acted as financial advisor to Sierra Wireless and Deutsche Bank
Securities Inc. acted as financial advisor to Numerex.

About Sierra Wireless

Sierra Wireless (NASDAQ:SWIR) (TSX:SW) is building the Internet of
Things with intelligent wireless solutions that empower organizations to
innovate in the connected world. Customers start with Sierra because we
offer the industry's most comprehensive portfolio of 2G, 3G and 4G
embedded modules and gateways, seamlessly integrated with our secure
cloud and connectivity services. OEMs and enterprises worldwide trust
our innovative solutions to get their connected products and services to
market faster. Sierra Wireless has more than 1,100 employees globally
and operates R&D centers in North America, Europe and Asia. For more
information, visit

About Numerex Corp.

Numerex Corp. (NASDAQ:NMRX) is a leading provider of enterprise
solutions enabling the Internet of Things ("IoT"). Numerex's solutions
produce new revenue streams or create operating efficiencies for its
customers. Numerex provides its technology and services through its
integrated platforms, which are generally sold on a subscription basis.
Numerex offers a portfolio of managed end-to-end IoT solutions including
smart devices, network connectivity and service applications capable of
addressing the needs of a wide spectrum of vertical markets and
industrial customers. Numerex's mission is to empower enterprise
operations with world-class, managed IoT solutions that are simple,
innovative, scalable, and secure. For additional information, please

Cautionary Note Regarding Forward-Looking Statements

Certain statements and information in this press release constitute
forward-looking statements or forward-looking information within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995 and
Canadian securities laws ("forward-looking statements") with respect to
the proposed transaction, including statements with respect to the
delisting and deregistration of the shares of Numerex common stock and
the continued listing of Sierra Wireless common shares on the Nasdaq and
the TSX. Although Sierra Wireless believes these statements are based on
information and assumptions which are current, reasonable and complete,
these statements are necessarily subject to a variety of risks and
uncertainties, including stock exchange and securities regulatory
matters. A further discussion of the risks and uncertainties facing
Sierra Wireless are discussed in its Annual Information Form and
Management's Discussion and Analysis of Financial Condition and Results
of Operations, which may be found on SEDAR at
and on EDGAR at
and in Sierra Wireless' other regulatory filings with the Securities and
Exchange Commission in the United States and the Provincial Securities
Commissions in Canada. While Sierra Wireless makes these forward-looking
statements in good faith, should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary significantly from those expected,
depending on the outcome of certain factors, including the possibility
that the anticipated synergies and other benefits of the proposed
acquisition will not be realized or will be not be realized within the
expected timeframe. Except as may be required by applicable securities
laws, Sierra Wireless assumes no obligation to publicly update or revise
any forward-looking statements made herein or otherwise, whether as a
result of new information, future events or otherwise.

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