Fibocom increases investment and acquires 100% of the equity in Rolling Wireless, which remains a standalone company with no change to its structure, team, or locations.
Rolling Wireless S.à R.L., the world’s leading supplier of cellular network access devices (NADs) to the automotive industry, today announced that Fibocom Wireless has acquired all equity in the company previously owned by other shareholders. As a result, Rolling Wireless is now wholly owned by Fibocom.
Rolling Wireless, a limited liability company headquartered in Luxembourg, was established in 2020 by the divestiture of Sierra Wireless’s automotive division to a consortium of investors led by Fibocom. In its first two years as an independent company, Rolling Wireless has consolidated a clear leadership position in the cellular NAD module market, with an estimated 22.7% global market share.1
Fibocom, which originally held 49% of the equity in Rolling Wireless, has now acquired the remaining 51%, previously owned by three professional investment institutions.
“As we continue to grow our business, it is critically important for our organisation to remain independent and led by automotive experts,” said Dan Schieler, CEO of Rolling Wireless. “Fibocom understands and supports our core mission, which is to be the most reliable and secure wireless solutions provider for the global automotive industry. The transaction provides unprecedented access to capital and strategic backing for Rolling Wireless’ growth initiatives, such as 5G and V2X solutions, and we are confident that the transaction will further enhance our ability to serve automotive OEMs and Tier 1 suppliers.”
“The full acquisition of Rolling Wireless is part of our strategy to extend our penetration in the IoT Market”, said Mr. Peter Zhang, Board Chair of Fibocom. “Our aim is to help Rolling Wireless continue to deliver world-class automotive connectivity solutions and enhance their profitability.”
Mr. Zhang emphasised that Rolling Wireless’s structure, team, and locations remain unchanged, and that customers will experience no difference in operational procedures following the transaction.
“Rolling Wireless’s headquarters will remain in Europe, and its global R&D, System Engineering, Quality, and Sales teams will continue to support Rolling Wireless’ customers and partners as before,” he stated.
Mr. Schieler added: “We will continue to focus on our strategic objectives of delivering the first 5G Release 16 NADs on the market, expanding our software and service offering, and continuing to differentiate with best-in-class integration and software support. We will also continue to strengthen our footprint in key regions such as Europe, as illustrated by the opening of an additional development site in Hungary earlier this year, while benefiting from Fibocom’s long-term investment horizon. In short, we will continue to be the world’s leading automotive connectivity supplier in the years to come.”
1 Source: Counterpoint Market Research, September 22, 2022
