Sequans Agrees To Sell Its 4G IoT Technology For $200M To Qualcomm While Retaining License For Ongoing Use And Development
Portfolio Pulse from Benzinga Newsdesk
Sequans has agreed to sell its 4G IoT technology to Qualcomm for $200 million. The deal includes $185 million in cash, with $175 million payable at closing and an additional $10 million after a one-year warranty period. Sequans retains a license for ongoing use and development.
August 23, 2024 | 10:08 am
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POSITIVE IMPACT
Qualcomm is acquiring Sequans' 4G IoT technology for $200 million, enhancing its IoT portfolio. This acquisition could strengthen Qualcomm's position in the IoT market.
The acquisition of Sequans' 4G IoT technology is likely to enhance Qualcomm's IoT offerings, potentially leading to increased market share and revenue in the IoT sector.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Sequans is selling its 4G IoT technology to Qualcomm for $200 million, retaining a license for ongoing use. This deal provides Sequans with significant capital while allowing continued development.
The sale provides Sequans with a substantial cash inflow, which can be used for further development and operations, while retaining a license ensures continued innovation.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 95