Qualcomm completes 4G IoT technology deal with Sequans
Qualcomm Technologies has completed the acquisition of the 4G IoT technology developed by Sequans in France.
Qualcomm Technologies expects to integrate the 4G technologies into its portfolio of purpose-built connectivity solutions for IoT under license. The deal, announced just a few weeks ago, helps Sequans tackle its financial issues following a failed bid by Renesas Electronics and focus on 5G technologies such as Redcap.
“We are pleased to add Sequans’ 4G IoT technology into Qualcomm’s broad product portfolio, adding to our robust, low-power solutions for dependable and optimized cellular connectivity for industrial IoT applications,” said Nakul Duggal, group general manager, automotive, industrial and embedded IoT, and cloud computing, Qualcomm Technologies. “This acquisition supports our commitment to delivering cutting-edge IoT solutions and strengthens our position as a leader in intelligence at the edge.”
“We are thrilled to finalize this transaction with Qualcomm and to retain a perpetual license to continue using, commercializing and advancing these technologies,” said Georges Karam, CEO of Sequans (above).
“It validates the strength of our technology and ensures that our customers will continue to receive top-tier support on our 4G portfolio and cutting-edge 5G innovation. The asset sale is set to deliver significant benefits to our customers. With a robust balance sheet, proven technology and a comprehensive portfolio that includes low-power LTE-M/NB-IoT, LTE Cat 1bis and the upcoming 5G Redcap/eRedCap technology, we are very well positioned in the market,” he added.
www.qualcomm.com; www.sequans.com
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