Sierra Wireless Announces Termination of the Agreement to Acquire CradlePoint, Inc.



    TSX: SW
    Nasdaq:   SWIR

    VANCOUVER, July 7 /CNW/ - Sierra Wireless, Inc. (NASDAQ:   SWIR, TSX: SW)
announced today that the agreement to acquire CradlePoint, Inc. previously
announced on April 7, 2008 has been terminated.
    As is customary in agreements of this nature, there are certain
conditions that need to be met prior to closing. One of these conditions has
not been met, resulting in the agreement being terminated by Sierra Wireless.
    As a result of the termination, we expect to incur approximately $700,000
of transaction related expenses in the second quarter of 2008.

    Forward-Looking Statements

    Certain statements in this press release that are not based on historical
facts constitute forward-looking statements or forward-looking information
within the meaning of applicable securities laws ("forward-looking
statements"). These forward-looking statements are not promises or guarantees
of future performance but are only predictions that relate to future events,
conditions or circumstances or our future results, performance, achievements
or developments and are subject to substantial known and unknown risks,
assumptions, uncertainties and other factors that could cause our actual
results, performance, achievements or developments in our business or in our
industry to differ materially from those expressed, anticipated or implied by
such forward-looking statements. Forward-looking statements include disclosure
regarding possible events, conditions, circumstances or results of operations
that are based on assumptions about future economic conditions, courses of
action and other future events. We caution you not to place undue reliance
upon any such forward-looking statements, which speak only as of the date they
are made. These forward-looking statements appear in a number of different
places in this press release and can be identified by words such as "may",
"estimates", "projects", "expects", "intends", "believes", "plans",
"anticipates", or their negatives or other comparable words. Forward-looking
statements include statements regarding the outlook for our future operations,
plans and timing for the introduction or enhancement of our services and
products, statements concerning strategies or developments, statements about
future market conditions, supply conditions, end customer demand conditions,
channel inventory and sell through, revenue, gross margin, operating expenses,
profits, forecasts of future costs and expenditures, the outcome of legal
proceedings, and other expectations, intentions and plans that are not
historical fact. The risk factors and uncertainties that may affect our actual
results, performance, achievements or developments are many and include,
amongst others, our ability to develop, manufacture, supply and market new
products that we do not produce today that meet the needs of customers and
gain commercial acceptance, our reliance on the deployment of next generation
networks by major wireless operators, the continuous commitment of our
customers, and increased competition. These risk factors and others are
discussed in our Annual Information Form, which may be found on SEDAR at
www.sedar.com and on EDGAR at www.sec.gov and in our other regulatory filings
with the Securities and Exchange Commission in the United States and the
Provincial Securities Commissions in Canada. Many of these factors and
uncertainties are beyond the control of the Company. Consequently, all
forward-looking statements in this press release are qualified by this
cautionary statement and there can be no assurance that actual results,
performance, achievements or developments anticipated by the Company will be
realized. Forward-looking statements are based on management's current plans,
estimates, projections, beliefs and opinions and the Company does not
undertake any obligation to update forward-looking statements should the
assumptions related to these plans, estimates, projections, beliefs and
opinions change.

    About Sierra Wireless

    Sierra Wireless (NASDAQ:   SWIR - TSX: SW) modems and software connect
people and systems to mobile broadband networks around the world. The Company
offers a diverse product portfolio addressing enterprise, consumer, original
equipment manufacturer, specialized vertical industry, and machine-to-machine
markets, and provides professional services to customers requiring expertise
in wireless design, integration, and carrier certification. For more
information about Sierra Wireless, visit www.sierrawireless.com.

    %SEDAR: 00011917E




For further information:

For further information: Sierra Wireless, Inc., David G. McLennan, Chief
Financial Officer, (604) 231-1185, Website: www.sierrawireless.com, Email:
dmclennan@sierrawireless.com

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SIERRA WIRELESS, INC.

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