On August 26, Qualcomm announced on August 23 local time that it has reached a final agreement to acquire the 4G IoT technology of Sequans Communications, a French IoT wireless cellular semiconductor company. The transaction covers some employees, assets, and licenses, and still needs to meet customary closing conditions, including approval from French regulatory authorities. Both parties did not mention the transaction amount in the press release. After the transaction is completed, Qualcomm will provide Sequans with a permanent license for the technology that originally belonged to Sequans, and Sequans will retain all rights to use these technologies for commercial purposes.