M&A Following its acquisition of a 10% stake in Telefonica, state-owned SEPI has reportedly pushed for the replacement of the operator’s CEO, according to El Confidencial. Jose Maria Alvarez-Pallete has been replaced by Marc Murtra, who is currently the executive chairman of defense specialist Indra. IoT platform Cumulocity has left Software AG, after a management buyout. This is largely due to the winding down of Software AG, where its various wings have been sold off, under the purview of Silver Lake Partners, which acquired it in 2023, for some $2.4 billion. Sequans has acquired ACP (Advanced Circuit Pursuit), a Swiss RF CMOS specialist, which Sequans will use to enhance its IoT-focused 5G eRedCap roadmap and products. No price has been…