COMSovereign Holding Corp. (OTCQB: COMS) has announced it will acquire all of the equity interests of Skyline Technology Partners, LLC d/b/a Fastback Networks to expand 5G portfolio, the company said.
The transaction includes all operations, customers and intellectual property of Fastback, and when completed, will significantly expand the Company´s wireless backhaul technology offerings to include intelligent backhaul radios (IBR) designed for Tier 1 service providers currently deploying 5G and next generation public and private mobile networks.
Terms of the transaction include total consideration of approximately USD 14 million consisting of cash, debentures, and debentures convertible into common stock. The transaction is expected to close within approximately 30 days and is subject to several closing conditions.
COMSovereign Holding Corp. is a US-based pure-play developer of 5G connectivity and data transmission systems.
Fastback Networks delivers technology for mobile infrastructure that enable network operators to expand and enhance services, and private networks to secure, monitor, and manage operations via high capacity data connectivity.