Qualcomm: acquisition of Sequans' 4G IoT business finalized

(CercleFinance.com) - Sequans announced on Monday that it had finalized the sale of its 4G Internet of Things (IoT) technology business to US mobile chip giant Qualcomm.


The deal was announced at the end of July, but financial terms were not disclosed.

With this acquisition, Qualcomm intends to strengthen its portfolio of low-power, ultra-reliable connectivity required for industrial applications.

The American wireless chip designer also intends to consolidate its leading position in the 'at the edge' digital transformation segment.

Sequans, a Paris-based manufacturer of cellular IoT chips, for its part, plans to focus on its 5G-related IoT products.

Listed on the New York Stock Exchange, its share price has soared by nearly 170% since the deal was made official.

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