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.