As a result, Sequans will retain the right to use the technology commercially through a perpetual license agreement.
The move will also allow Sequans to continue expanding its 4G business and developing its 5G portfolio, while maintaining full ownership of its 5G technology.
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Meanwhile, the acquisition also includes certain employees, assets and licenses.
Currently, Sequans specialises in the design, development and supply of semiconductor solutions for cellular applications in large-scale and critical IoT markets.
By integrating Sequans’ 4G IoT technologies with Qualcomm’s end-to-end IoT solutions, Qualcomm aims to enhance its industrial IoT portfolio and strengthen its position in the sector.
Qualcomm Technologies, group general manager, automotive, industrial and embedded IoT, and cloud computing, Nakul Duggal said: “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, optimised cellular connectivity for Industrial IoT applications.”
Sequans CEO, Georges Karam, continued: “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.
“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.”
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