Qualcomm buys Sequans industrial IoT business
- August 26, 2024
- William Payne
Qualcomm is buying Sequans 4G IoT technology business. The move strengthens Qualcomm’s industrial IoT portfolio, and allows it to offer low-power cellular IoT connectivity.
Sequans retains the license of the 4G IoT Technology for its ongoing use and will continue to serve its IoT markets. The move strengthens its balance sheet. Sequans also maintains full ownership of its 5G technology.
“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, optimised cellular connectivity for Industrial IoT applications.”
“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,” 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.”