Sasken Technologies Limited — M&A Activity 2025

Apr 14, 2025

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BSE Limited, Department of Corporate Services - CRD Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001

April 14, 2025

National Stock Exchange of India Limited Exchange Plaza, C-1, Block - G, Bandra Kurla Complex, Bandra (E) Mumbai - 400 051 By Web Upload

Dear Sir / Madam,

Sub: Press Release: Sasken Technologies Completes Acquisition of Borqs Technologies to Strengthen IoT and 5G Product Engineering Capabilities Ref: Scrip Code 532663/ SASKEN

Please find enclosed a Press Release bearing the title ‘Sasken Technologies Completes Acquisition of Borqs Technologies to Strengthen IoT and 5G Product Engineering Capabilities’ being released today.

Thanking you,

Yours faithfully

For Sasken Technologies Limited Paawan Digitally signed by Paawan Bhargava Date: 2025.04.14 Bhargava 13:59:48 +05'30' Paawan Bhargava Company Secretary

Encl. as above

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Sasken Technologies Limited 139/25, Ring Road, Domlur, Bengaluru 560071, India T: +91 80 6694 3000, E: info@sasken.com CIN: L72100KA1989PLC014226 | www.sasken.com

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Sasken Technologies Completes Acquisition of Borqs Technologies to Strengthen IoT and 5G Product Engineering Capabilities

Bengaluru, India: April 14, 2025 – Sasken Technologies Limited (NSE: SASKEN, BSE: 532663), a leading global provider of product engineering and digital transformation services, announced that it has completed acquisition of BORQS International Holding Corp on April 8, 2025 . This follows the announcement made on November 09, 2024, by the Company of its intent to acquire ODM and software services business of Borqs Technologies, Inc. (Borqs)

Sasken has consistently delivered innovative solutions across various industries through its Engineering R&D services. The strategic acquisition of Borqs businesses underscores Sasken's commitment to enhancing its expertise in these services and is aligned with Sasken’s 60x4x3 strategy to drive growth, innovation, and competitiveness in the market.

This collaboration will expedite Sasken's Chip-to-Cognition journey by integrating specialized design skills at scale and complementing existing investments in semiconductors, cybersecurity, and artificial intelligence. With this acquisition, Sasken aims to provide comprehensive end-to-end product development and production realization solutions for its global clients to help in their journey of commercializing connected devices.

Licenses, IP Portfolio, and Engineering capabilities from this transaction will accelerate Sasken's 60x4x3 journey across semiconductors, consumer electronics, automotive, and high-tech customers. By integrating Borqs’ deep expertise in embedded software and wireless product solutions, Sasken will significantly expand its portfolio in high-demand areas such as IoT, 5G, and connected consumer devices.

Borqs is a global provider of embedded software and products for the Internet of Things (IoT), providing customizable, differentiated, and scalable Android-based smart connected devices and cloud service solutions. Leveraging strategic partner relationships with leading chipset vendors to maximize its broad software and intellectual property (IP) portfolio, Borqs has achieved superior leadership and customer recognition throughout the world. As a Google® licensed partner for Android & Android Wear, Borqs employs 300+ design specialists across the India and China.

Hareesh Ramana, one of the founders of Borqs Technologies Limited and Managing director of Borqs India will join the Sasken leadership as part of this acquisition and lead the efforts to integrate Borqs capabilities into the Sasken repertoire.

Commenting on the acquisition, Mr. Rajiv C. Mody, Chairperson, Managing Director & CEO, Sasken Technologies Limited , said: “This acquisition reflects our commitment to expanding our technological footprint and delivering advanced solutions to meet the evolving demands of our customers. By integrating Borqs’ capabilities, we will strengthen our portfolio, improve our competitiveness, and drive future growth in high-demand markets like Automotive, SatCom, Consumer, Industrial, IoT and 5G.”

“The completion of this acquisition marks the beginning of an exciting new chapter for Borqs. Joining forces with Sasken gives us the strategic scale and technological alignment to accelerate innovation in connected

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Sasken Technologies Limited

139/25, Ring Road, Domlur, Bengaluru 560071, India T: +91 80 6694 3000, E: info@sasken.com CIN: L72100KA1989PLC014226 | www.sasken.com

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devices, IoT, and 5G. With our Agile and Tech-first approach, we are confident in our ability to deliver even greater value to our customers and partners worldwide.” said Mr. Hareesh Ramanna , Executive Vice President, Co-General Manager, Managing Director of India Operations and Head of Software Development, Borqs Technologies, Inc.

About Sasken:

Sasken is a specialist in Product Engineering and Digital Transformation providing concept-to-market, chip-tocognition R&D services to global leaders in Semiconductor, Automotive, Industrials, Consumer Electronics, Enterprise Devices, SatCom, Telecom, and Transportation industries. For over 30 years and with multiple patents, Sasken has transformed the businesses of 100+ Fortune 500 companies, powering more than a billion devices through its services and IP. For more information, visit www.sasken.com

About Borqs Technologies, Inc.

Borqs is a global leader in IoT software and smart connected devices, offering scalable, customizable Androidbased solutions and cloud services. Leveraging strong chipset partnerships and a robust IP portfolio, Borqs delivers end-to-end IoT innovations. Its Android and Android Wear licenses enable a rich software IP library for chipset integration, performance optimization, and specialized applications. The company is also actively developing 5G-enabled products for smartphones and hotspots. For more information, visit https://www.borqs.com/

Media Contact: Sasken: Rekha Sahay Ghosh

Head of Marketing & Communications E : pr@sasken.com T : +91 80 6694 3009

Disclaimer on Forward Looking Statements:

Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements due to risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to successfully implement our strategy and our growth and expansion plans, technological changes, our exposure to market risks, general economic and political conditions in India which have an impact on our business activities or investments, changes in the laws and regulations that apply to the Indian IT services industry, including with respect to tax incentives and export benefits, adverse changes in foreign laws, including those relating to outsourcing and immigration, increasing competition in and the conditions of the Indian and global IT services industry, the prices we are able to obtain for our services, wage levels in India for IT professionals, the loss of significant customers the monetary and interest policies of India, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices, the performance of the financial markets in India and globally, changes in domestic and foreign laws, regulations and taxes and changes in competition in the information technology/ telecommunication industries. Additional risks that could affect our future operating results are more fully described in our Red herring filing. The Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.