Press release
Qualcomm and Sequans Reach Agreement on Sale of 4G IoT Technology
Strengthens Qualcomm's Industrial IoT portfolio, offering low-power solutions for reliable, optimized cellular connectivity for IoT applications Expands and
About this update from Qualcomm Incorporated
[{"type":"text","content":"\n\nStrengthens Qualcomm's Industrial IoT portfolio, offering low-power solutions for reliable, optimized cellular connectivity for IoT applications\n\n\nExpands and accelerates Qualcomm's leadership position in digital transformation at the edge\n\n\nSequans retains license of the 4G IoT Technology for its ongoing use and will continue to serve its IoT markets with a strengthened balance sheet\n\n\nSequans maintains full ownership of its 5G technology\n\n\nParis, France and San Diego, California--(Newsfile Corp. - August 23, 2024) - Qualcomm Incorporated, (NASDAQ: QCOM), a global leader in high-performance at low-power solutions, through its subsidiary, Qualcomm Technologies, Inc. (\"Qualcomm\"), and Sequans Communications S.A. (NYSE: SQNS), a supplier of 4G and 5G semiconductor solutions for the Internet of Things (IoT), today announced that they have entered into a definitive agreement for Qualcomm to buy Sequans' 4G IoT technologies. The acquisition includes certain employees, assets and licenses. The transaction is subject to customary closing conditions, including French regulatory approval.\n\nQualcomm is revolutionizing industries, redefining business models, and enhancing user experiences through its cutting-edge IoT solutions. Qualcomm® IoT technologies and solutions utilize the real-world connected intelligent edge to offer end-to-end, ready-to-deploy solutions so customers can digitally transform their businesses to optimize their operations, monetize massive amounts of data, innovate in new ways, and drive cost savings.\nSequans is a designer, developer, and supplier of cellular semiconductor solutions for massive and critical IoT markets. The addition of Sequans' 4G IoT technologies to Qualcomm's advanced end-to-end IoT solutions will strengthen Qualcomm's Industrial IoT portfolio and provides a unique opportunity to build a leadership position in this space.\n\"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 custome...