ISSY-LES-MOULINEAUX, France—Shares of Wavecom SA received a boost after the industrial wireless technology provider said it acquired privately held software developer NexGen Software SA for $505,000.
NexGen’s internally-developed TCP/IP suite of protocol stacks, which facilitate communication between computers, and Web software were key to the deal. Wavecom, which provides embedded industrial wireless communications for automotive and machine-to-machine applications, said it hopes the acquisition will eliminate its need to pay third-party vendors for such offerings.
NexGen will operate as a wholly-owned subsidiary and will continue to develop and market software.
“This is exactly the type of targeted acquisition that helps us to reinforce our already strong software expertise in all areas of machine-to-machine communication,” said Philippe Guillemette, Wavecom’s chief technology officer.
Wavecom shares climbed 43 cents, or more than 4 percent, to $10.68 following the news.
