Qualcomm has acquired 4G IoT technology assets from Sequans Communications.

The company, which announced the deal last week, said the acquisition includes certain employees, assets, and licenses.

Financial terms were not disclosed.

France-based Sequans specializes in supplying 4G and 5G semiconductor products for IoT.

Qualcomm notes that the deal will strengthen its industrial IoT offering, and can help it to build a strong position in that particular market.

“Digital transformation is being driven by high-performance processing and intelligence at the Edge, positioning Qualcomm for growth in one of the largest addressable opportunities,” said Nakul Duggal, group general manager of automotive, industrial and embedded IoT, and cloud computing, at Qualcomm.

“This acquisition of Sequans’ 4G IoT technology adds to Qualcomm’s broad portfolio, further strengthening our offerings across enterprise customers of low-power solutions for reliable, optimized cellular connectivity for Industrial IoT applications.”

Qualcomm revealed that Sequans will retain full rights to continue to use the technology commercially, via a perpetual license agreement, supporting the company’s ability to expand its 4G business and develop its 5G portfolio.

Georges Karam, CEO of Sequans added: “We are dedicated to pushing the boundaries of innovation and providing cutting-edge 4G/5G semiconductor solutions that meet the advancing needs of AI-powered Internet of Things applications,"

"This transaction is expected to provide us the resources and flexibility to enhance our product offerings and expand our market presence.”

The transaction is subject to customary closing conditions, including French regulatory approval.