Sequans raises $24m in financing led by Kennet Venture Partners to ensure its international development

Transaction managed by Clipperton Finance

PARIS, France and CUPERTINO, California, July 24, 2006 – SEQUANS Communications, a leading supplier of fixed and mobile WiMAX chips, has raised US $24 million in a new round of equity financing.

The round was led by Kennet Venture Partners, a leading international private equity firm that provides growth equity to technology businesses in Europe and the U.S. Sequans’ existing investors, Add Partners, Cap Decisif, T-Source, SG Asset Management and Vision Capital, also participated in the round. For this transaction, Sequans was advised by Clipperton Finance, a corporate finance boutique focused on the high tech and media sectors.

About Sequans
SEQUANS Communications is a leading supplier of fixed and mobile WiMAX silicon and software based on IEEE 802.16 standards. Offering both base station and subscriber station chips for both fixed and mobile WiMAX, Sequans provides a broader product line than any other WiMAX chipmaker. Sequans offers equipment manufacturers an all-in-one solution, including full MAC and PHY functionality, enabling them to build the complete range of WiMAX network components: high-end and pico base stations, outdoor and indoor subscriber terminals, home gateways, and all types of mobile devices. Sequans’ WiMAX solutions feature high performance, very low power consumption, and incorporate all 802.16 standard requirements as well as additional features for increased coverage and mobility. Sequans, along with its RF partners, provide the most complete WiMAX solution available to system manufacturers today. Sequans’ fixed WiMAX products are certified 802.16-2004-compliant and its mobile WiMAX products are expected to be certified when the wave 1 certification process begins later this year. Sequans is based in Paris, France with offices in USA, Israel and Singapore. For more information please visitwww.sequans.com.

About Clipperton Finance
Based in Paris and London, Clipperton Finance is a European corporate finance boutique dedicated to the High Tech and Media industries. Clipperton is focused on start-up and high-growth companies in the Internet, Software, Telecom, Components, CleanTech, MedTech and Media spaces, advising them in their financial transactions: fundraising/capital increases and Mergers & Acquisitions. Over the past years the company and its team have successfully structured numerous high level international transactions in the European High Tech sector.