Sequans Communications 2024 Qualcomm Asset Sale 4G IoT Technology

Sequans Communications announced the sale of its 4G IoT technology assets to Qualcomm for $200 million, with an expected closing by October 2024. Sequans retains full ownership of its 5G technology and maintains rights to continue selling and developing its 4G product portfolio. The transaction strengthens Sequans' balance sheet while positioning the company as a leading independent provider of cellular IoT solutions.