Sequans Reaffirms Commitment to Massive IoT Market
Sequans Communications S.A. (NYSE: SQNS) has announced its commitment to the Massive IoT market following the closure of its transaction with Qualcomm Technologies, Inc. The company received $182 million in cash, with an additional $18 million credited towards the $200 million purchase price. Sequans retains a perpetual license to use, commercialize, and advance its 4G IoT technology.
The company will focus on supporting its 4G LTE-M/NB-IoT and Cat 1bis product line, while developing a roadmap towards low-power 5G variants for Massive IoT, including RedCap and eRedCap. This strategy aims to provide customers with a seamless migration path from 4G to 5G IoT technologies.
Industry leaders from Itron, Geotab, AT&T, and ABI Research have expressed support for Sequans' strengthened position and future innovations in the IoT market.
Sequans Communications S.A. (NYSE: SQNS) ha annunciato il suo impegno nel mercato del Massive IoT dopo la conclusione della transazione con Qualcomm Technologies, Inc. L'azienda ha ricevuto 182 milioni di dollari in contante, con ulteriori 18 milioni di dollari accreditati sul prezzo di acquisto di 200 milioni di dollari. Sequans mantiene una licenza perpetua per utilizzare, commercializzare e sviluppare la propria tecnologia IoT 4G.
L'azienda si concentrerà sul supporto della sua linea di prodotti 4G LTE-M/NB-IoT e Cat 1bis, mentre sviluppa una tabella di marcia verso varianti 5G a basso consumo per il Massive IoT, inclusi RedCap e eRedCap. Questa strategia mira a fornire ai clienti un percorso di migrazione senza soluzione di continuità dalle tecnologie IoT 4G a quelle 5G.
I leader del settore di Itron, Geotab, AT&T e ABI Research hanno espresso il loro supporto per la posizione rafforzata di Sequans e le future innovazioni nel mercato IoT.
Sequans Communications S.A. (NYSE: SQNS) ha anunciado su compromiso con el mercado de Massive IoT tras el cierre de su transacción con Qualcomm Technologies, Inc. La compañía recibió 182 millones de dólares en efectivo, con un adicional de 18 millones de dólares acreditados al precio de compra de 200 millones de dólares. Sequans conserva una licencia perpetua para usar, comercializar y avanzar en su tecnología IoT 4G.
La empresa se enfocará en apoyar su línea de productos 4G LTE-M/NB-IoT y Cat 1bis, mientras desarrolla una hoja de ruta hacia variantes de 5G de bajo consumo para Massive IoT, incluidos RedCap y eRedCap. Esta estrategia tiene como objetivo proporcionar a los clientes un camino de migración fluido de las tecnologías IoT 4G a las 5G.
Los líderes de la industria de Itron, Geotab, AT&T y ABI Research han expresado su apoyo a la posición fortalecida de Sequans y a las futuras innovaciones en el mercado IoT.
Sequans Communications S.A. (NYSE: SQNS)는 Qualcomm Technologies, Inc.와의 거래 완료 후 Massive IoT 시장에 대한 헌신을 발표했습니다. 이 회사는 1억 8200만 달러의 현금을 받았으며, 2억 달러의 구매 가격 중 1천 800만 달러가 추가로 적립되었습니다. Sequans는 4G IoT 기술을 사용하고 상용화하며 발전시키기 위한 영구 라이센스를 유지합니다.
회사는 4G LTE-M/NB-IoT 및 Cat 1bis 제품군을 지원하는 데 집중하면서, Massive IoT를 위한 저전력 5G 변형을 개발하는 로드맵을 마련할 것입니다. 이 전략은 고객에게 4G에서 5G IoT 기술로의 원활한 마이그레이션 경로를 제공하는 것을 목표로 하고 있습니다.
Itron, Geotab, AT&T 및 ABI Research의 산업 리더들은 Sequans의 강화된 입장과 IoT 시장의 미래 혁신에 대한 지지를 표명했습니다.
Sequans Communications S.A. (NYSE: SQNS) a annoncé son engagement sur le marché du Massive IoT suite à la clôture de sa transaction avec Qualcomm Technologies, Inc. L'entreprise a reçu 182 millions de dollars en espèces, avec un montant supplémentaire de 18 millions de dollars crédité sur le prix d'achat de 200 millions de dollars. Sequans conserve une licence perpétuelle pour utiliser, commercialiser et faire progresser sa technologie IoT 4G.
L'entreprise se concentrera sur le soutien de sa gamme de produits 4G LTE-M/NB-IoT et Cat 1bis, tout en développant une feuille de route vers des variantes 5G à faible consommation pour le Massive IoT, y compris RedCap et eRedCap. Cette stratégie vise à fournir aux clients un chemin de migration fluide des technologies IoT 4G vers les technologies 5G.
Des leaders de l'industrie tels qu'Itron, Geotab, AT&T et ABI Research ont exprimé leur soutien à la position renforcée de Sequans et aux futures innovations sur le marché de l'IoT.
Sequans Communications S.A. (NYSE: SQNS) hat sein Engagement für den Massive IoT-Markt nach dem Abschluss seiner Transaktion mit Qualcomm Technologies, Inc. angekündigt. Das Unternehmen erhielt 182 Millionen US-Dollar in bar, wobei zusätzlich 18 Millionen US-Dollar auf den Kaufpreis von 200 Millionen US-Dollar gutgeschrieben wurden. Sequans behält eine unbefristete Lizenz zur Nutzung, Kommerzialisierung und Weiterentwicklung seiner 4G IoT-Technologie.
Das Unternehmen wird sich darauf konzentrieren, seine 4G LTE-M/NB-IoT und Cat 1bis Produktlinie zu unterstützen, während es einen Fahrplan für stromsparende 5G-Varianten für Massive IoT, einschließlich RedCap und eRedCap, entwickelt. Diese Strategie zielt darauf ab, den Kunden einen nahtlosen Migrationsweg von der 4G- zu den 5G-IoT-Technologien zu bieten.
Branchenführer von Itron, Geotab, AT&T und ABI Research haben ihre Unterstützung für die gestärkte Position von Sequans und die zukünftigen Innovationen im IoT-Markt zum Ausdruck gebracht.
- Received $182 million in cash from the Qualcomm transaction
- Retained perpetual license for 4G IoT technology
- Strengthened balance sheet to support future investments
- Focus on developing 5G RedCap and eRedCap technologies for Massive IoT
- Positive testimonials from industry leaders (Itron, Geotab, AT&T, ABI Research)
- None.
Insights
This transaction significantly strengthens Sequans' financial position and strategic focus. The
The deal structure, including the perpetual license to continue using and advancing its 4G IoT technology, allows Sequans to maintain its current revenue streams while exploring new market opportunities. The company's renewed focus on the Massive IoT market, coupled with its strengthened financial position, positions it well for potential growth in this expanding sector.
Investor sentiment should be positive, given the improved financial stability and the vote of confidence from major industry players like Itron, Geotab and AT&T. However, execution of the new strategy and the pace of 5G IoT adoption will be critical factors to watch in the coming quarters.
Sequans' strategic pivot towards Massive IoT and 5G technologies is well-timed with market trends. The retention of 4G IoT technology rights while selling the assets to Qualcomm is a clever move, allowing Sequans to benefit from both immediate cash influx and ongoing technology utilization.
The focus on LTE-M/NB-IoT, Cat 1bis and future 5G variants like RedCap and eRedCap positions Sequans at the forefront of low-power, wide-area (LPWA) cellular IoT technologies. This comprehensive portfolio offers a clear migration path for customers from 4G to 5G, which is important for long-term IoT deployments.
The endorsements from industry leaders like Itron and Geotab underscore the quality and relevance of Sequans' technology. The mention of AT&T's enthusiasm for upcoming 5G IoT innovations suggests potential for significant carrier partnerships, which could be a major growth driver.
The Recent Qualcomm Transaction Boosts Sequans' Capacity to Serve Customers and Further Develop its Massive IoT Roadmap
Paris, France--(Newsfile Corp. - October 1, 2024) - Sequans Communications S.A. (NYSE: SQNS), a leading provider of 4G and 5G semiconductors and modules for the Internet of Things, announced today that, following the closing of its transaction with Qualcomm Technologies, Inc. ("Qualcomm"), a subsidiary of Qualcomm Incorporated, it will focus its future investments on addressing the Massive IoT market opportunity with its 4G products and 5G roadmap.
A joint press release issued yesterday with Qualcomm announced the successful closing of the sale of Sequans' 4G IoT technology assets to Qualcomm. Under the terms of the agreement, Sequans retains a perpetual license to continue using, commercializing, and advancing its 4G IoT technology.
The Company received
Sequans reaffirms the decision made in June to focus investments on supporting its 4G LTE-M/NB-IoT and Cat 1bis product line, while developing its product roadmap towards low-power 5G variants for Massive IoT, specifically RedCap and eRedCap, to provide Massive IoT customers with a seamless migration path from 4G to 5G IoT technologies.
Georges Karam, CEO of Sequans, commented, "With a strengthened balance sheet, our proven technology, and a comprehensive portfolio that includes low-power LTE-M/NB-IoT, LTE Cat 1bis, and the forthcoming 5G RedCap and eRedCap technologies, Sequans is now stronger and uniquely positioned to lead the market. Backed by a dedicated team of experts in cellular IoT, we are committed to delivering best-in-class products and services."
Industry Testimonials
Tom Deitrich, CEO of Itron, which uses Sequans Monarch LTE-M/NB-IoT technology for Grid Edge Intelligence infrastructure and endpoints, commented, "This transaction dramatically strengthens Sequans' ability to deliver cutting-edge technology at scale, which is crucial for Itron. Sequans is a strategic partner, allowing Itron to increase the value we can create for our customers and all stakeholders."
Derek Luke, COO of Geotab, which uses Sequans Calliope LTE Cat 1bis technology for connected vehicle and asset solutions, commented, "Sequans has always been a technology leader, especially with the first LTE Cat 1bis technology for North America. Sequans is a trusted partner of Geotab, providing us with exceptional support. They are now set to become an industry leader in IoT."
Cameron Coursey, Vice President - AT&T Connected Solutions, commented, "We are extremely pleased to see this transaction close. Sequans has been at the forefront of Cat 1bis and LTE-M technology, and we are enthusiastic about their upcoming innovations in 5G IoT with RedCap and eRedCap."
Dan Shey, Vice President at ABI Research, a global technology market research firm, commented, "This transaction redefines the competitive landscape in cellular IoT technology. The 4G intellectual property developed by Sequans is now poised to become a cornerstone of the mass market IoT industry, utilized by both Qualcomm and Sequans."
About Sequans Communications
Sequans Communications S.A. (NYSE: SQNS) is a leading semiconductor company specializing in wireless cellular technology for the Internet of Things (IoT). Our engineers design and develop innovative, secure, and scalable technologies that power the next generation of connected devices. We offer a wide range of solutions, including chips, modules, IP, and services. Our LTE-M/NB-IoT, 4G LTE Cat 1bis, and 5G NR RedCap/eRedCap platforms are optimized for IoT, delivering breakthroughs in wireless connectivity, power efficiency, security, and performance. Established in 2003, Sequans is headquartered in France and has a global presence with offices in the United States, United Kingdom, Israel, Hong Kong, Singapore, Finland, Taiwan, and China.
Sequans investor relations: Kim Rogers (USA), +1 385.831.7337, ir@sequans.com
Sequans media relations: Linda Bouvet (France), +33 1 70 72 16 00 media@sequans.com
Forward Looking Statements
This press release contains certain statements that are, or may be deemed to be, forward-looking statements with respect to the financial condition, results of operations and business of Sequans, including our business following completion of the transaction. These forward-looking statements include, but are not limited to, statements regarding the satisfaction of conditions to the completion of the proposed transaction and the expected completion of the proposed transaction, the timing and benefits thereof, as well as other statements that are not historical fact. These forward-looking statements can be identified by the fact that they do not relate to historical or current facts. Forward-looking statements also often use words such as "anticipate," "target," "continue," "estimate," "expect," "forecast," "intend," "may," "plan," "goal," "believe," "hope," "aims," "continue," "could," "project," "should," "will" or other words of similar meaning. These statements are based on assumptions and assessments made by Sequans in light of its experience and perception of historical trends, current conditions, future developments and other factors they believe appropriate. By their nature, forward-looking statements involve risk and uncertainty, because they relate to events and depend on circumstances that will occur in the future and the factors described in the context of such forward-looking statements in this announcement could cause actual results and developments to differ materially from those expressed in or implied by such forward-looking statements. Although it is believed that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be correct, and you are therefore cautioned not to place undue reliance on these forward-looking statements which speak only as at the date of this announcement.
Forward-looking statements are not guarantees of future performance. Such forward-looking statements involve known and unknown risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Such risks and uncertainties include, but are not limited to, the outcome of legal proceedings that may be instituted against Sequans and/or others relating to the transaction; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed transaction; significant or unexpected costs, charges or expenses resulting from the proposed transaction; and negative effects of this announcement or the consummation of the proposed transaction on the market price of Sequans' ADS and ordinary shares. Many factors could cause actual results to differ materially from those projected or implied in any forward-looking statements. Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are changes in the global, political, economic, business and competitive environments, market and regulatory forces. If any one or more of these risks or uncertainties materializes or if any one or more of the assumptions prove incorrect, actual results may differ materially from those expected, estimated or projected. Such forward looking statements should therefore be construed in the light of such factors. A more complete description of these and other material risks can be found in Sequans' filings with the SEC, including its annual report on Form 20-F for the year ended December 31, 2023, subsequent filings on Form 6-K and other documents that may be filed from time to time with the SEC. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this announcement. Sequans undertakes no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225214
FAQ
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