Sequans Communications, a leading provider of 4G LTE and 5G chip and module solutions for IoT devices, has seen a surge in its shares following the announcement of a $200 million sale of its 4G IoT technology to Qualcomm. The deal includes the transfer of certain patents and technology assets related to Sequans’ 4G chip business, allowing Qualcomm to enhance its wireless technology offerings.
The sale of this technology marks a significant milestone for Sequans, as it will enable the company to focus more on its core competencies in developing 5G solutions for IoT devices. The $200 million from the sale will also provide Sequans with additional resources to invest in research and development, further solidifying its position in the fast-growing IoT market.
Investors have reacted positively to the news, with Sequans’ shares surging in response to the announcement. The sale to Qualcomm is seen as a validation of the value of Sequans’ technology and expertise in the IoT space, and it is expected to drive further growth for the company in the future.
In a statement regarding the sale, Sequans CEO Georges Karam expressed excitement about the opportunities the partnership with Qualcomm will bring. He highlighted the synergies between the two companies and their shared vision for the future of IoT technology.
Overall, the sale of Sequans’ 4G IoT technology to Qualcomm is a significant development for both companies and the IoT industry as a whole. It demonstrates the continued growth and innovation in the space, as well as the increasing importance of wireless connectivity in the era of the Internet of Things.
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