Semtech Is in Advanced Talks to Buy Canadian Peer Sierra Wireless

People familiar with the matter say Semtech is in advanced talks to acquire Sierra Wireless.

The people said that a deal could be announced in a few days. The people said that no final decision has been made.

The company's market value was about $1 billion when it was halted in New York. Semtech's market value is about $4 billion.

Representatives for Semtech and Sierra didn't respond to questions.

Despite the long regulatory reviews the transactions often face, Semiconductors have been an area of busy dealmaking recently. The acquisition of Silicon Motion Technology Corp. by MaxLinear was announced in May.

Semtech provides chips for use in video broadcast equipment.

Sierra Wireless is based in British Columbia and makes components for the internet of things. Semtech has made inroads into this area and a takeover of Sierra would complement its internet of things business.

Scott Deveau helped with the project.