By integrating Sequans' 4G IoT technologies, Qualcomm aims to strengthen its position in the Industrial IoT space, offering customers more robust and reliable cellular connectivity with optimized low-power solutions.
Qualcomm Technologies, Inc., a global leader in low-power, high-performance solutions, has announced a significant move to expand its IoT capabilities by acquiring Sequans Communications S.A.'s 4G IoT technologies. This acquisition will bring Qualcomm closer to its vision of revolutionizing industries, redefining business models, and enhancing user experiences with cutting-edge IoT solutions. Certain workers, assets, and licences are part of the deal. The transaction is subject to usual closing conditions, such as French regulatory approval.
Nakul Duggal, the Group General Manager of Automotive, Industrial and Embedded IoT, and Cloud Computing at Qualcomm Technologies, highlighted the strategic importance of this acquisition. He emphasized that Qualcomm’s growth in the IoT space is fueled by the increasing demand for high-performance processing and intelligent edge solutions. The addition of Sequans' technology is seen as a vital enhancement to Qualcomm's extensive IoT offerings, allowing the company to better serve enterprise customers with more efficient and reliable connectivity for Industrial IoT applications.
In a mutually beneficial arrangement, Sequans will continue to commercially use the acquired technology through a perpetual license agreement. This deal not only strengthens Sequans’ ability to expand its 4G business but also provides significant capital to further invest in its ambitions within the IoT sector, including the development of its 5G portfolio.
Georges Karam, CEO of Sequans, stated, “We are excited to announce this important transaction with Qualcomm. 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.”
