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Semtech to buy Sierra Wireless in $1.2 bln deal

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Aug 2 (Reuters) - Semiconductor supplier Semtech Corp will acquire Canada's Sierra Wireless Inc in a deal valued at $1.2 billion, the companies said on Tuesday.

Semtech will acquire all shares of Sierra Wireless for $31 per share in an all-cash deal, according to a statement.

"Internet of things" solutions provider Sierra said earlier in the day that it was in advanced discussion with Semtech about a possible deal. (Reporting by Ankur Banerjee in Bengaluru; Editing by Maju Samuel)