Sequans Communications rises on expanding licensing deal with Renesas

Sequans Communications SA

05/01/2022 17:46

** U.S. listed shares of chipmaker Sequans Communications
S.A.  SQNS.N  up 17.6% at $5.69 - among top pct gainers on the
NYSE
    ** Co expands its existing 4G and 5G licensing deal with
Renesas Electronics Corp  6723.T 
    ** Deal allows SQNS to expand its market opportunity to
India  urn:newsml:reuters.com:*:nPn9KH4bBa
    ** Renesas will also take a small equity stake in SQNS
    ** The combined value of the business agreement and equity
investment is about $20 mln
    ** Investment and agreement is expected to close by Jan. 14
    ** SQNS fell 21.52% last year

 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))