Sasken to Acquire Borqs Technologies' Business to Boost Market Presence

Sasken Technologies Limited, an Indian company specializing in product engineering and digital transformation services, announced its intent to acquire the hardware and software services business of Borqs Technologies Inc., a U.S. provider of embedded software and IoT products. This strategic acquisition, valued at up to $40 million inclusive of earn-outs, is designed to bolster Sasken's capabilities in designing and commercializing connected devices, integrating Borqs' strengths in IoT and 5G. The acquisition aligns with Sasken's growth strategy and allows for strengthened alliances with industry leaders such as Qualcomm. Borqs, founded in 2007, is known for its end-to-end wireless product solutions and has set a strong foundation in mobile telecommunications. The acquisition, aiming for completion by the end of 2024, promises to combine Sasken's and Borqs' complementary strengths for innovative market solutions. This aligns with both companies' focus on future technologies such as AI and blockchain.