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Technology Stocks : The New Qualcomm - a S&P500 company -- Ignore unavailable to you. Want to Upgrade?

To: Sully- who wrote (12908)	6/22/2000 7:08:00 PM
From: Dennis Roth	Read Replies (1) \| Respond to of 13582

Sierra Wireless in Supply Deal with Qualcomm dailynews.yahoo.com TORONTO (Reuters) - Sierra Wireless (Toronto:SW.TO - news), a Canadian maker of wireless telecommunications hardware, said on Thursday it had entered into a supply deal with digital technology firm Qualcomm Inc. (NasdaqNM:QCOM - news) that includes the purchase of Qualcomm's wireless module business. Vancouver-based Sierra said its acquisition of Qualcomm's Code Division Multiple Access (CDMA) module business would hasten the time to market for those CDMA products, including personal-computer communication cards and integrated communication modules for use by personal computer manufacturers. ``Instead of developing a new product, we just purchased one,'' said a Sierra Wireless spokesperson. As part of the arrangement, Qualcomm will integrate Sierra's wireless modems into its new OmniExpress two-way mobile communication and fleet-tracking system, in an agreement that lasts until the third quarter of 2002. Sierra would not disclose financial terms of the deal. ``Overall, the agreements further our relationship with Qualcomm in building the demand for high-speed CDMA data applications for emerging markets worldwide,'' said Sierra's chief operating officer Glen Brownlee in a statement. Sierra previously announced it would supply Panasonic Canada with CDMA products and it is also supplying Sprint PCS with communication cards based on the CDMA standard. Initially, the supply deal for Qualcomm's OmniExpress will use circuit-switched CDMA technology, meaning that the device will hold a continuous connection to a mobile network, but will be transformed into a packet-based device, which sends data in packets to a network on an intermittent basis. Sierra Wireless stock on the Toronto Stock Exchange closed up C$5.15 at C$75 on Thursday in a broad-based rally of wireless technology stocks.