Japanese semiconductor manufacturer Renesas Electronics has acquired France-based Sequans Communications, a pioneer in 5G/4G cellular IoT chips and modules. The acquisition will enable Renesas to expand its portfolio and expertise in the rapidly growing cellular IoT market. Although Renesas is a prominent name in the world of microcontroller units, the company has not historically specialized in connectivity.
According to the deal, Renesas will purchase all outstanding common shares of Sequans, including American Depositary Shares (ADS), for $3.03 per ADS in cash. This values Sequans at around $249 million, considering net debt. The transaction is expected to close by Q1 of calendar year 2024, subject to regulatory approvals.
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Published Date: October 2023