Qualcomm Technologies Inc. Agrees to Acquire 4G IoT technologies

San Diego-based Qualcomm Technologies Inc. agreed to acquire 4G IoT technologies of Sequans from Paris-based Sequans Communications S.A. for $200 million on August 23. The acquisition is expected to bolster Qualcomm’s industrial IoT portfolio to optimize cellular connectivity for related applications.

“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,” said Nakul Duggal, Qualcomm group general manager, automotive, industrial and embedded IoT, and cloud computing, in a statement.

Sequans will receive $185 million in cash with $175 million payable at closing and another $10 million following a one-year warranty period. The remaining $15 million was paid under a pre-transaction license agreement that was completed in June 2024. The transaction is expected to close in October, subject to French regulatory approval.