Borqs Technologies Closes $40M Sale of Its Core Businesses to Sasken Technologies

Borqs Technologies completed the sale of its core businesses to Sasken Technologies in an all-cash transaction worth $40 million. The strategic move is a defining moment for the two companies as it opens the door for opportunities for Sasken to expand its capabilities while permitting Borqs to concentrate on fresh horizons.

 

Key Highlights

The Deal: The deal involves the acquisition of Borqs' embedded software design business and IoT hardware manufacturing activities, customer contracts, technology licenses, and the transfer of the key staff.

 

Sasken's Strategy: Sasken Technologies intends to leverage Borqs' resources to enhance its business in high-growth markets such as automotive, IoT, and 5G technologies and enhance innovation at a faster rate.

 

Borqs' New Direction: Borqs intends to focus on artificial intelligence (AI) and capital-related activities, which means a strategic shift toward newer technologies.

 

Industry Impact: The sale will be anticipated to enhance Sasken's global presence and improve its market share in advanced technology fields, as well as demonstrate Borqs' resilience in seeking growth.

 

The sale reflects the changing dynamics of global tech collaborations, as firms work together to better navigate the rapidly changing technological terrain.

 

Sources: Yahoo Finance,GlobeNewswire