Sequans Communications S.A. announced an expansion of its existing 4G/5G licensing agreements with Renesas Electronics Corporation granting special rights to Renesas that strengthen the go-to-market opportunities for Sequans' LTE-M/NB-IoT Monarch 2 and Taurus 5G platforms. In particular, by building on Renesas' extensive sales, distribution and customer support capabilities, the deal allows Sequans to expand its serviceable addressable market to India. Additionally, Renesas will take a small equity stake in Sequans. The combined value of the business agreements and the equity investment, which is expected to close by January 14, 2022 subject to customary closing conditions, is approximately $20 million.
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