Qualcomm acuires Sequans' 4G IoT Technology
Qualcomm and Sequans Communications, a supplier of 4G and 5G semiconductor solutions for the IoT, have entered into a definitive agreement for Qualcomm to acquire Sequans' 4G IoT technologies.
The transaction, which is subject to customary closing conditions, including French regulatory approval, includes certain employees, assets and licenses.
Sequans is a designer, developer, and supplier of cellular semiconductor solutions for massive and critical IoT markets. The addition of Sequans' 4G IoT technologies to Qualcomm's advanced end-to-end IoT solutions will strengthen the US company's Industrial IoT portfolio and provide an opportunity to build a advance its position in this space.
“Digital transformation is being driven by high-performance processing and intelligence at the edge, positioning Qualcomm for growth in one of the largest addressable opportunities,” said Nakul Duggal, group general manager, automotive, industrial and embedded IoT, and cloud computing at Qualcomm Technologies, in a press release. “This acquisition of Sequans’ 4G IoT technology adds to Qualcomm’s broad portfolio, further strengthening our offerings across enterprise customers of low-power solutions for reliable, optimized cellular connectivity for Industrial IoT applications.”
Sequans will retain full rights to continue to use the technology commercially, via a perpetual license agreement, supporting the company’s ability to expand its 4G business and develop its 5G portfolio.
“We are excited to announce this important transaction with Qualcomm. This agreement underscores the value of our 4G IoT technology and provides us with significant capital to continue to further invest in our IoT business ambitions,” adds Georges Karam, CEO of Sequans.
