Sequans board of directors recommends that shareholders accept renesas tender offer and tender shares

Paris, france--(newsfile corp. - august 16, 2023) - sequans communications s.a. (nyse: sqns) ("sequans"), a leader in 5g/4g cellular iot chips and modules, today announced that its board of directors determined that the proposed offer from renesas electronics corporation (tse: 6723) ("renesas"), as described in the memorandum of understanding (the "mou") between sequans and renesas previously announced on august 7, 2023, is consistent with and will further the business objectives and goals of sequans and is in the best interests of the company, its employees, and its shareholders.
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