Renesas is acquiring Sequans, in a semiconductor tie-up that will see Sequans and its low-power cellular expertise join Renesas in an expansionist move. The deal is worth $249 million, and is expected to be complete by Q1 2024. This is the latest in a spree for Renesas, which has acquired Dialog, Celeno, and Panthronics in the past few years, to expand its IoT offerings. The deal will see Renesas move from the local-area network game into the wide-area network world. Previously, it has dealt in WiFi and Bluetooth, but it has worked with Sequans since 2020. Renesas cites an expected 10% annual growth in the market for cellular IoT devices, as a motivation for the deal. Sequans will become a…