Sequans targets massive IoT following Qualcomm deal closure
- October 2, 2024
- Steve Rogerson

IoT semiconductor firm Sequans says it plans to address the massive IoT market following the closure of the sale of its 4G IoT technology to Qualcomm.
The French firm says it will focus its future investments on addressing the massive IoT market with its 4G products and 5G roadmap.
A joint statement (sequans.com/press-release/qualcomm-and-sequans-complete-sale-of-4g-iot-technology) issued this week with Qualcomm announced the successful closing of the sale of Sequans’ 4G IoT technology assets to Qualcomm (www.qualcomm.com). Under the agreement, Sequans retains a perpetual licence to continue using, commercialising and advancing its 4G IoT technology.
The company received $182m in cash, with $172m received on September 30 and up to an additional $10m following the completion of a one-year warranty period. The remaining $18m, of which $15m was received under the pre-transaction manufacturing licence agreement executed in June 2024 and $3m received under a bridge loan last month, has been credited toward the $200m purchase price.
Sequans reaffirms the decision made in June to focus investments on supporting its 4G LTE-M, NB-IoT and Cat 1bis product line, while developing its roadmap towards low-power 5G variants for massive IoT, specifically RedCap and eRedCap, to provide massive IoT users with a seamless migration path from 4G to 5G IoT technologies.
“With a strengthened balance sheet, our proven technology, and a comprehensive portfolio that includes low-power LTE-M, NB-IoT, LTE Cat 1bis, and the forthcoming 5G RedCap and eRedCap technologies, Sequans is now stronger and uniquely positioned to lead the market,” said Georges Karam, CEO of Sequans. “Backed by a dedicated team of experts in cellular IoT, we are committed to delivering best-in-class products and services.”
Tom Deitrich, CEO of Itron (www.itron.com), which uses Sequans Monarch LTE-M and NB-IoT technology for grid edge intelligence infrastructure and endpoints, added: “This transaction dramatically strengthens Sequans’ ability to deliver cutting-edge technology at scale, which is crucial for Itron. Sequans is a strategic partner, allowing Itron to increase the value we can create for our customers and all stakeholders.”
And Derek Luke, COO of Geotab (www.geotab.com), which uses Sequans Calliope LTE Cat 1bis technology for connected vehicle and asset tracking, said: “Sequans has always been a technology leader, especially with the first LTE Cat 1bis technology for North America. Sequans is a trusted partner of Geotab, providing us with exceptional support. They are now set to become an industry leader in IoT.”
Sequans (www.sequans.com) is a semiconductor company specialising in wireless cellular technology for the IoT. Established in 2003, it is headquartered in France and has offices in the USA, UK, Israel, Hong Kong, Singapore, Finland, Taiwan and China.