Qualcomm to Acquire 4G IoT Technology from Sequans

TapTechNews August 26th news, Qualcomm announced on the 23rd of this month local time that it has reached a final agreement with the French IoT wireless cellular semiconductor company Sequans Communications (TapTechNews note: hereinafter referred to as Sequans) to acquire the latter's 4G IoT technology.

This transaction covers some employees, assets and licenses, and still needs to meet the customary closing conditions, including approval from the French regulatory agency. Neither party mentioned the transaction amount in the press release.

After the transaction is completed Qualcomm will provide Sequans with a permanent license of the technology originally belonging to the latter, and Sequans retains all the rights to use these technologies for commercial purposes.

Nakul Duggal, general manager of Qualcomm Technologies' Automotive, Industrial and Embedded IoT and Cloud Computing Division, said:

High-performance processing and intelligence at the edge are driving digital transformation, which lays the foundation for Qualcomm to achieve growth in the largest addressable opportunities.

This acquisition of Sequans' 4G IoT technology is the icing on the cake for Qualcomm's extensive product portfolio and further strengthens the low-power solutions we provide to enterprise customers and provides reliable and optimized cellular connectivity for industrial IoT applications.

Georges Karam, Sequans' chief executive, said:

We are very pleased to announce this important transaction with Qualcomm. This agreement demonstrates the value of our 4G IoT technology and provides us with a significant amount of funds to continue to further invest in our IoT business goals.

We are committed to driving innovation and providing cutting-edge 4G/5G semiconductor solutions to meet the evolving needs of AI-driven IoT applications. This transaction is expected to provide us with resources and flexibility to enhance our product offerings and expand our market share.