---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-007227"
form_type: "8-K"
ticker: "SMTC"
cik: "0000088941"
company_name: "SEMTECH CORP"
filed_at: "2023-01-12T23:59:59+00:00"
generated_at: "2026-06-20T16:19:47.641167+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Semtech completes $1.2B acquisition of Sierra Wireless; expects immediate EPS accretion

## Summary
- All-cash deal at US$31/share; total enterprise value ~$1.2B; funded with cash and $895M new term loan.
- Acquisition nearly doubles Semtech's annual revenue; adds ~$100M of high-margin IoT Cloud recurring revenues.
- Expects immediate accretion to non-GAAP EPS and $40M run-rate operational synergies within 12-18 months.
- Sierra Wireless shares to be delisted from Nasdaq and TSX; former senior leaders join Semtech IoT groups.

## SEC filing metadata
- accession: 0001193125-23-007227
- form_type: 8-K
- ticker: SMTC
- cik: 0000088941
- company_name: SEMTECH CORP
- filed_at: 2023-01-12T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.03, 2.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/88941/000119312523007227/0001193125-23-007227-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/88941/000119312523007227/d445992d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-007227
- JSON: https://secwatch.observer/filing/0001193125-23-007227.json
- Plain text: https://secwatch.observer/filing/0001193125-23-007227.txt

## Key facts
- Debt Financings
  SEMTECH CORP incurred term loan of US$895 million with JPMorgan Chase Bank, N.A. maturing the fifth anniversary of the Effective Date.
  - Instrument: term loan
  - Principal: US$895 million
  - Counterparty: JPMorgan Chase Bank, N.A.
  - Maturity: the fifth anniversary of the Effective Date
  - Event: incurrence
  source text: Semtech borrowed term loans in an aggregate principal amount of US$895 million under the New Term Loan Facility
  evidence_url: https://www.sec.gov/Archives/edgar/data/88941/000119312523007227/0001193125-23-007227-index.htm
- Debt Financings
  SEMTECH CORP amended revolving credit of US$600 million with JPMorgan Chase Bank, N.A. maturing the fifth anniversary of the Effective Date.
  - Instrument: revolving credit
  - Principal: US$600 million
  - Counterparty: JPMorgan Chase Bank, N.A.
  - Maturity: the fifth anniversary of the Effective Date
  - Event: amendment
  source text: extend the maturity date of US$405 million of the US$600 million in aggregate principal amount of revolving commitments thereunder from November 7, 2024 to the fifth anniversary of the Effective Date
  evidence_url: https://www.sec.gov/Archives/edgar/data/88941/000119312523007227/0001193125-23-007227-index.htm
- M&A Transactions
  SEMTECH CORP completed an acquisition involving Sierra Wireless, Inc. for US$31.00 per share (closed 2023-01-12).
  - Action: acquisition
  - Counterparty: Sierra Wireless, Inc.
  - Consideration: US$31.00 per share
  - Closing: 2023-01-12
  source text: share of Sierra Wireless that was issued and outstanding immediately prior to the Effective Time was transferred to the Purchaser in consideration for the right to receive US$31.00 per share of Sierra Wireless’ common shares (“Per Share Consideration”), in an all-cash transaction representing a total enterprise value of approximately US$1.2 billion. The cash
  evidence_url: https://www.sec.gov/Archives/edgar/data/88941/000119312523007227/0001193125-23-007227-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.