Sequans Communications (SQNS) shares skyrocketed on Friday after announcing the sale of its 4G IoT technologies to Qualcomm (QCOM) for $200 million. The acquisition, expected to close by the end of October 2024, includes certain employees, assets, and licenses, while Sequans retains the license for its 4G IoT technology and full ownership of its 5G technology. Sequans also reported preliminary second-quarter results with revenue growth and expects higher product revenue in 2025.