Renesas Electronics, a semiconductor solutions provider headquartered in Tokyo, has revealed its plans to acquire Paris-based Sequans Communications, a prominent player in 5G/4G cellular IoT chips and modules.
The two companies have entered into a memorandum of understanding (MoU) to proceed with the acquisition, which is intended to be executed through a tender offer of $3.03 per ADS in cash. However, the successful completion of the acquisition is contingent upon approval from the Sequans Board and works council.