Qualcomm declared the signing of a final contract to purchase Sequans Communications’ 4G internet of things (IoT) technology. Although the acquisition’s financial terms are unknown, it includes a number of people, assets, and licenses.
Sequans is a major company that creates and delivers semiconductor solutions for cellular applications in significant and expansive Internet of Things sectors.
It is anticipated that the integration of Sequans’ 4G IoT technologies with Qualcomm’s end-to-end IoT solutions will improve the latter’s industrial IoT portfolio and increase its market share.
Sequans will be granted a permanent licence agreement that will grant it the right to use the technology for commercial purposes.
In addition to preserving complete ownership of its 5G technology, this will help Sequans grow both its 4G business and its 5G portfolio. The acquisition is still subject to usual closing requirements, which include regulatory authority in France’s approval.
Nakul Duggal, group general manager of Qualcomm Technologies for cloud computing, industrial, automotive, and embedded IoT, stated: “High-performance processing and intelligence at the edge are driving digital transformation, positioning Qualcomm for growth in one of the largest addressable opportunities.”
“This acquisition of Sequans’ 4G IoT technology expands Qualcomm’s offering portfolio and strengthens our low-power solutions for dependable, optimized cellular connectivity for Industrial IoT applications across enterprise customers.”
Sequans Communications CEO Georges Karam said: “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.
“We are dedicated to pushing the boundaries of innovation and providing cutting-edge 4G/5G semiconductor solutions that meet the advancing needs of AI-powered Internet of Things applications. This transaction is expected to provide us the resources and flexibility to enhance our product offerings and expand our market presence.”
This development follows Qualcomm’s effort to purchase Autotalks, an Israeli startup that specializes in automotive safety chipsets for vehicle-to-everything applications.
The transaction, which had been valued at $350–400 million when it was announced in May 2023, was abandoned when international regulators, including the Israeli antitrust authorities, the UK, and the European Commission, expressed concerns about anti-competitive behavior.
Inputs Taken from Yahoo Finance
