San Diego, CA and Paris, France – August 23, 2024 – Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, has announced a definitive agreement to acquire the 4G IoT technology portfolio of Sequans Communications S.A. for $200 million in an all-cash transaction. This strategic acquisition aims to bolster Qualcomm’s Industrial IoT offerings, enhancing its position in the low-power, wide-area (LPWA) segment of the IoT market.
The acquisition includes certain employees, assets, and licenses related to Sequans’ 4G IoT technologies. This move is expected to provide Qualcomm with advanced solutions for reliable and optimized cellular connectivity, crucial for various IoT applications. By integrating Sequans’ technology, Qualcomm aims to address performance and efficiency gaps in the current IoT landscape, offering end-to-end solutions that facilitate digital transformation at the edge.
Nakul Duggal, Group General Manager of Automotive, Industrial, and Embedded IoT at Qualcomm Technologies, highlighted the significance of this acquisition: “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. 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 a perpetual license to continue using the 4G IoT technology commercially, ensuring its ability to expand its 4G business and develop its 5G portfolio. Georges Karam, CEO of Sequans, expressed enthusiasm about the deal, stating, “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.” This acquisition marks a significant milestone for both companies. For Qualcomm, it represents a strategic expansion into the IoT market, enhancing its capabilities and offerings. For Sequans, it provides the financial resources to focus on its 5G ambitions while continuing to serve its existing 4G IoT markets. As the IoT landscape continues to evolve, this deal positions Qualcomm and Sequans to play pivotal roles in shaping the future of connected technologies.
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