Renesas acquires cellular IoT chip maker Sequans for $249 million

【Lansheng Technology Information】Renesas Electronics has agreed to acquire French cellular IoT chipmaker Sequans Electronics for US$249 million. The deal is expected to close in the first quarter of 2024, subject to formal approval by the French Works Council, followed by local tax and regulatory approvals. The $249 million valuation includes all stock holdings by all shareholders, including U.S. equities, while also including net debt.

Renesas will integrate Sequans' cellular IoT products and IP into its microcontrollers, microprocessors, analog and mixed-signal front-end products. A statement from the two companies said: "This acquisition will allow Renesas Electronics to immediately expand its business scope into the wide area network (WAN) market covering a wide range of data rates. It will also strengthen Renesas Electronics' already rich personal area (PAN) and local area network (LAN) connectivity product portfolio."

The acquisition is the latest in a spree of acquisitions by Renesas Electronics, which has previously acquired UK power management and industrial IoT specialist Dialog (August 2021), Israeli company Wi-Fi chipset and software provider Celeno (December 2021) and Austrian near-field communication (NFC) chipmaker Panthronics (June 2023). Founded in 2003, Sequans focuses on cellular-based Low Power Wide Area Network (LPWAN) solutions, especially NB-IoT and LTE-M solutions, and IoT hardware based on higher power LTE-4G and 5G. The two parties have been collaborating since 2020 to combine Renesas' embedded processors and analog front-end products with Sequans' wireless chipsets for massive IoT and broadband IoT applications.

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