Qualcomm agrees to acquire 4G IoT technology from Sequans
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Qualcomm Incorporated, through its subsidiary, Qualcomm Technologies, and Sequans Communications have entered into a definitive agreement for Qualcomm to buy the 4G IoT technology assets from Sequans.
The 4G IoT acquisition includes certain employees, assets and licenses. The transaction is subject to customary closing conditions, including French regulatory approval.
Qualcomm® IoT technologies and products utilize the real-world connected intelligent edge to offer end-to-end, ready-to-deploy solutions so customers can digitally transform their businesses to optimize their operations, monetize massive amounts of data, innovate in new ways, and drive cost savings.
Sequans is a designer, developer, and supplier of cellular semiconductors for massive and critical IoT markets. The addition of Sequans’ 4G IoT technologies to Qualcomm’s advanced end-to-end IoT portfolio will provide a unique opportunity to build a leadership 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, Qualcomm Technologies, Inc. “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.
“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,” said Georges Karam, CEO of Sequans. “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.”
www.sequans.com
www.qualcomm.com
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