Qualcomm and Sequans finalize 4G IoT technology sale in September 2024
- Qualcomm has acquired Sequans Communications' 4G IoT technology to enhance its product offerings.
- Sequans retains a perpetual license to continue using and advancing its technologies, ensuring ongoing support for its customers.
- The acquisition is expected to strengthen Qualcomm's position in the IoT market and provide significant benefits to both companies.
On September 30, 2024, Qualcomm Incorporated, a leader in low-power solutions, announced the completion of its acquisition of Sequans Communications S.A.'s 4G IoT technology. This strategic move aims to enhance Qualcomm's product portfolio, particularly in the industrial IoT sector, by integrating Sequans' advanced technologies. Nakul Duggal from Qualcomm emphasized the importance of this acquisition in supporting their commitment to cutting-edge IoT solutions. Meanwhile, Sequans' CEO, Georges Karam, expressed satisfaction with the deal, highlighting that it allows Sequans to retain a perpetual license for the technology, ensuring continued support for their customers. The sale is expected to provide significant benefits to both companies, with Qualcomm enhancing its connectivity solutions and Sequans maintaining its strong market position with a robust technology portfolio, including upcoming 5G innovations. This acquisition reflects the growing demand for reliable and efficient IoT solutions in various industries, positioning Qualcomm as a leader in this rapidly evolving market.