Sasken Technologies to acquire Borqs Technologies Inc’s business to expand capabilities and market reach
Summary
Working closely with chipset partners, Sasken will create a range of connected devices, including mobile phones, tablets, smartwatches, and various IoT products. Under the terms of the deal: • Sasken will assume control of Borqs Technologies’ ODM and software services business assets and operations, without any associated liabilities. With close to 300 employees and a presence across continents, Borqs is well-positioned to capitalise on the growing demand for IoT and 5G technologies, leveraging its software platform to offer customisable wireless product solutions across various industries, including utilities, healthcare, and smart cities. “After the strategic alliance with Sasken, Borqs intends to use the proceeds to develop the next generation AI and blockchain software and services. The transaction is expected to be complete by the end of 2024 and the companies together will continue investing in innovation to develop cutting-edge solutions that align with customers’ strategic goals.