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HOW TO INTERFACE WAVECOM MODEM WITH ARM7TDMIS??
(Some) Wavecom modems have some general-purpose IO (GPIO) pins in addition to the serial port - so that's also an option for communicating with another processor (I2C is supported).
The Wavecom modem cotnains a powerful ARM CPU, so any processing can be done within the modem; the external microcontroller would just need to be a simple IO controller - probably no need for another ARM there!