Qualcomm Technologies and Sequans Communications announced that they have signed a definitive agreement under which Qualcomm will acquire Sequans' 4G IoT technology, including certain employees, assets and licenses. The transaction is subject to customary closing conditions, including French regulatory approval.
Sequans designs, develops and supplies cellular semiconductor solutions for large-scale and critical IoT markets. The addition of Sequans' 4G IoT technology to Qualcomm's advanced end-to-end IoT solutions strengthens Qualcomm's industrial IoT portfolio and creates a unique opportunity to establish a leadership position in this space.
Sequans will retain full rights to continue to commercially exploit the technology through a perpetual license agreement, supporting the expansion of its 4G business and its ability to develop its 5G portfolio.
Nakul Duggal, group general manager, Automotive, Industrial and Embedded IoT, Cloud Computing, Qualcomm Technologies
“Digital transformation is being driven by high-performance processing and intelligence at the edge, and Qualcomm is positioned to grow in one of the largest addressable opportunities. The acquisition of Sequans' 4G IoT technology further expands Qualcomm's broad portfolio, enabling us to provide enterprise customers with low-power solutions that enable reliable, optimized cellular connectivity for industrial IoT applications.”
Seconds CEO Georges Karam
“We are pleased to announce this important transaction with Qualcomm. The agreement highlights 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 committed to pushing the boundaries of innovation to deliver cutting-edge 4G/5G semiconductor solutions that meet the evolving needs of AI-powered IoT applications. We expect this transaction will provide us the resources and flexibility to enhance our product offerings and expand our market presence.”
