Sequans Agrees To Sell Its 4G IoT Technology For $200M To Qualcomm While Retaining License For Ongoing Use And Development

Author: Benzinga Newsdesk | August 23, 2024 06:08am

Under the terms of the agreement with Qualcomm, Sequans will receive $185 million in cash, with $175 million payable at closing and up to an additional $10 million following the completion of a one-year warranty period.

The remaining $15 million was paid under the pre-transaction manufacturing license agreement that was executed in June 2024 and will be credited toward the $200 million purchase price.

Posted In: QCOM SQNS