Acquiring Company
Renesas Electronics Corporation
Acquired Company
Sequans Communications
Toyosu
ColombesManufacturingAutomotiveElectronicsHardwareInternet Of ThingsDescription
Renesas Electronics Corporation (TSE: 6723, “Renesas”), a premier supplier of advanced semiconductor solutions, and Sequans Communications S.A. (NYSE: SQNS, “Sequans”), a leader in 5G/4G cellular IoT chips and modules, today announced that the two companies have entered into a memorandum of understanding (the “MoU”). Pursuant to the terms of the MoU, Renesas will, following consultation of the Sequans’ works council and favorable recommendation by the Sequans Board, commence a tender offer to acquire all outstanding ordinary shares, including American Depositary Shares (ADS) of Sequans for $3.03 per ADS (each ADS representing four ordinary shares) in cash. The transaction values Sequans at approximately $249 million, including net debt, and is expected to close by the first quarter of calendar year 2024, subject to confirmation of tax treatment from relevant authorities, regulatory approvals and other customary closing conditions.
Quick answer
Renesas Electronics Corporation is acquiring Sequans Communications, announced August 7, 2023. Renesas Electronics Corporation is based in Toyosu, Tokyo, Japan.
- How much did Renesas Electronics Corporation pay for Sequans Communications?
- The deal value was not disclosed.
- What does Renesas Electronics Corporation do?
- Renesas Electronics Corporation (TSE: 6723) (“Renesas”) delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people..
- Where are Renesas Electronics Corporation and Sequans Communications based?
- Renesas Electronics Corporation is based in Toyosu, Tokyo, Japan. Sequans Communications is based in Colombes, Ile De France, France.
- Who are the decision-makers at Renesas Electronics Corporation?
- Fundz holds 2 contacts at Renesas Electronics Corporation. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
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Who to call at Renesas Electronics Corporation, and when
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Frequently asked
Who acquired Sequans Communications?
Sequans Communications was acquired by Renesas Electronics Corporation, based in Toyosu. The deal was reported on August 7, 2023. Renesas Electronics Corporation is privately held and operates in Manufacturing.
When did Renesas Electronics Corporation acquire Sequans Communications?
Renesas Electronics Corporation's acquisition of Sequans Communications was reported on August 7, 2023. Renesas Electronics Corporation (TSE: 6723, “Renesas”), a premier supplier of advanced semiconductor solutions, and Sequans Communications S.A. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Sequans Communications do?
Sequans Communications S.A. (NYSE: SQNS) is a leading developer and supplier of cellular IoT connectivity solutions, providing chips and modules for 5G/4G massive and broadband IoT. It is publicly traded (SQNS), operating in Hardware, and is based in Colombes.
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