Shares Of Micro Cap Rally Nearly 15% Following Major IoT Asset Sale

2025-04-14 12:00:00 ET

On a robust trading day for major markets, the bullish momentum extended to the microcap sector, where a significant technology transaction has just been finalized, driving a surge in one microcap stock.

Shares of Borqs Technologies, Inc. (OTCQB: BRQSF) are rallying as the company announced that they have finalized the $40 million sale of their core businesses, encompassing embedded software design and customized hardware manufacturing for IoT, to Sasken Technologies, Ltd., a global leader in product engineering based in India.

The agreement transfers customer contracts, intellectual property, key personnel, and critical subsidiaries, enabling Sasken to enhance its offerings in designing and commercializing connected devices like mobile phones, tablets, and IoT products. A portion of the sale price is reserved for employees, taxes, and performance-based earnouts tied to 2025 results.

According to the press release, Sasken’s acquisition strengthens its portfolio across high-demand sectors such as automotive, telecommunications, and consumer electronics, leveraging Borqs’ expertise and partnerships with chipset providers.

Hareesh Ramana, a Borqs founder, will join Sasken’s leadership to integrate these capabilities, ensuring a seamless transition and continued innovation.

Borqs plans to channel the proceeds into AI and capital-related ventures, aiming to capitalize on emerging technology trends. This strategic move positions Sasken to drive growth in IoT and 5G markets, while Borqs explores new frontiers. The collaboration with industry leaders like Qualcomm and mobile network operators will further amplify the impact of this deal across industries like utilities and smart cities.

As mentioned off the top, today’s announcement is sending shares of BRQSF up 14.89% to $0.23 in mid-morning trading.

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