Qualcomm has announced the signing of a definitive agreement to acquire 4G internet of things (IoT) technology from Sequans Communications.
The acquisition includes certain employees, assets, and licenses, although financial terms have not been disclosed.
Sequans specialises in designing, developing, and supplying semiconductor solutions for cellular applications in large-scale and critical IoT markets.
Integrating Sequans’ 4G IoT technologies with Qualcomm’s end-to-end IoT solutions is expected to enhance latter’s industrial IoT portfolio and bolster its presence in the sector.
Under the agreement terms, Sequans will retain the right to use the technology commercially through a perpetual licence agreement.
This will support Sequans’ expansion of its 4G business and the development of its 5G portfolio, while maintaining full ownership of its 5G technology.
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The transaction is currently pending customary closing conditions, including approval from French regulatory authorities.
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, optimized cellular connectivity for Industrial IoT applications.”
Sequans CEO Georges Karam said: “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.”
This development comes after Qualcomm’s attempt to acquire Autotalks, an Israeli company specialising in vehicle-to-everything chipsets for automotive safety.
Announced in May 2023, the acquisition was valued at $350-400m but was terminated due to anti-competitive concerns from international regulators, including the European Commission, the UK, and Israeli antitrust authorities.
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