Welcome to our dedicated page for BRQS news (Ticker: BRQS), a resource for investors and traders seeking the latest updates and insights on BRQS stock.
Borqs Technologies, Inc. (BRQS) is described in its public communications as a global provider of embedded software and products for the Internet of Things (IoT) and 5G wireless solutions. The news flow around Borqs covers both its operational activities in Android-based smart connected devices and IoT hardware, and significant corporate transactions that affect the structure and direction of the company.
Recent announcements highlight a major shift for Borqs. In April 2025, the company reported that it had completed the sale of its core businesses to Sasken Technologies Limited of India. This transaction included Borqs’ embedded software design and customized hardware manufacturing of IoT products, as well as customer contracts, technology licenses, intellectual property, certain subsidiaries, and employment agreements of key personnel. Earlier communications in 2024 described the planned sale of its hardware and software business to Sasken as part of a capital structure revamp.
Other news items have included interim financial results, where Borqs reported revenues from software and hardware segments and discussed gains from the disposal of subsidiary interests. The company has also issued releases on capital structure measures such as reverse stock splits and notifications related to Nasdaq listing requirements. Operational updates have covered topics such as smart IoT device initiatives for the African market, partnerships for CTA-2045 EcoPort and Modbus adaptor products for smart grid appliance manufacturers, and divestment processes for a solar energy storage subsidiary.
Investors and observers can use the Borqs news stream to follow developments in its IoT and 5G-related activities, its strategic partnerships, and its transition toward using transaction proceeds for investment activities in areas such as AI and capital-related ventures. Regularly reviewing company news can provide context on how Borqs’ business focus and corporate structure evolve over time.
Borqs Technologies (BRQSF) has completed the sale of its core businesses to Sasken Technologies for US$40 million. The transaction includes the company's embedded software design and IoT hardware manufacturing operations, along with customers' contracts, technology licenses, IP, key personnel, and important subsidiaries.
The sale amount will be partially reserved for employees, tax withholding, and performance-based earnout arrangements for 2025. Sasken will leverage the acquisition to enhance its capabilities in designing and developing connected devices, from concept to market, including mobile phones, tablets, smartwatches, and IoT products.
Following the sale, Borqs plans to redirect its focus toward emerging opportunities in AI and capital-related ventures. The company, founded in 2007, has approximately 300 employees and maintains strategic alliances with industry leaders like Qualcomm.
Borqs Technologies (BRQSF) reported strong financial results for H1 2024, with total revenues reaching $16.77 million, up 11.9% from H1 2023's $14.99 million. The company's gross margin improved to 20.2% from 19.4%, while operating expenses decreased significantly by 41% to $7.08 million.
The company achieved a remarkable turnaround, posting a net income of $15.02 million compared to a loss of $28.80 million in H1 2023. This improvement was driven by strong performances in both software and hardware segments, operational efficiency gains, and strategic initiatives including the sale of its solar subsidiary interests.
Borqs Technologies (BRQSF) has announced plans to sell its hardware and software business to Sasken Technologies for up to $40 million by the end of 2024. The deal includes earn-outs linked to performance in 2024 and 2025. This strategic move will result in a debt-free capital structure for Borqs. The company currently has 28.97 million outstanding shares, with 16.47 million in public float and no outstanding options or warrants. Post-transaction, Borqs plans to minimize administrative overhead and may consider share buybacks. The company aims to utilize the proceeds to invest in AI and blockchain technologies or acquire new businesses.
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