Qualcomm and Sequans Complete Sale of 4G IoT Technology
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San Diego, California and Paris, France--(Newsfile Corp. - September 30, 2024) - Qualcomm Incorporated, 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 completed the sale of Sequans' 4G IoT technology to Qualcomm.
"We are pleased to add Sequans' 4G IoT technology into Qualcomm's broad product portfolio, adding to our robust, low-power solutions for dependable and optimized cellular connectivity for industrial IoT applications," said Nakul Duggal, group general manager, automotive, industrial and embedded IoT, and cloud computing, Qualcomm Technologies, Inc. "This acquisition supports our commitment to delivering cutting-edge IoT solutions and strengthens our position as a leader in intelligence at the edge."
"We are thrilled to finalize this transaction with Qualcomm and to retain a perpetual license to continue using, commercializing and advancing these technologies, said Georges Karam, CEO of Sequans. "It validates the strength of our technology and ensures that our customers will continue to receive top-tier support on our 4G portfolio and cutting-edge 5G innovation from Sequans. The asset sale is set to deliver significant benefits to our customers. With a robust balance sheet, proven technology and a comprehensive portfolio that includes low-power LTE-M/NB-IoT, LTE Cat 1bis and the upcoming 5G Redcap/eRedCap technology, Sequans is very well positioned in the market. Supported by a seasoned team dedicated to cellular IoT, Sequans is set to provide best-in-class IoT products and services."
Qualcomm Technologies expects to integrate these 4G IOT technologies into its portfolio of purpose-built connectivity solutions for IOT.
About Qualcomm
Qualcomm relentlessly innovates to deliver intelligent computing everywhere, helping the world tackle some of its most important challenges. Our proven solutions drive transformation across major industries, and our Snapdragon? branded platforms power extraordinary consumer experiences. Building on our nearly 40-year leadership in setting industry standards and creating era-defining technology breakthroughs, we deliver leading edge AI, high-performance, low-power computing, and unrivaled connectivity. Together with our ecosystem partners, we enable next-generation digital transformation to enrich lives, improve businesses, and advance societies. At Qualcomm, we are engineering human progress.
