Benzinga | Feb 1, 2021 08:08AM EST

COMSovereign Completes Acquisition Of Fastback Networks For Total Consideration Of $4M Consisting Of Cash, Debentures, And Convertible Debentures

DALLAS, Feb. 1, 2021 /PRNewswire/ -- COMSovereign Holding Corp. (NASDAQ:COMS) ("COMSovereign" or the "Company"), a U.S.-based developer of 4G LTE Advanced and 5G Communication Systems and Solutions, announced today that it completed the acquisition of Skyline Technology Partners, LLC d/b/a Fastback Networks ("Fastback"). The transaction includes all operations, radio designs, customers, and intellectual property of Fastback.

Terms of the transaction include total consideration of approximately $14 million consisting of cash, debentures, and convertible debentures.

In addition to an installed base of tier one mobile network operator customers in North America, the acquisition is highlighted by a valuable intellectual property ("IP") portfolio of sixty-five granted and six pending patents. These active patents cover many of the key systems and methods vital to 5G wireless networking including Signal Processing, Adaptive Antennas, Beam Forming/Steering, Self-Optimizing Networks, Spectrum Sharing and Hybrid Band Operations.

"We are pleased to have completed the Fastback transaction, expanding our installed base of tier one customers and bringing with it, broad and early patent coverage of many critical 5G enabling technologies," said Dr. Dustin McIntire, CTO of COMSovereign Holding Corp. "We intend to quickly integrate Fastback into our operations so we can capitalize on growing customer interest in 4G LTE Advanced, 5G, and IAB small cells with integrated access and backhaul utilizing this unique IP."

Since its founding in 2010, Fastback has been a leader in the development and commercialization of its intelligent backhaul radio ("IBR") systems that deliver high-performance wireless connectivity to virtually any location including those challenged by Non-Line of Sight (NLOS) limitations. Fastback's advanced IBR products allow operators to economically add capacity and density to their macrocells and expand service coverage density with small cells. These solutions also allow operators to both provide temporary cellular and data service utilizing mobile/portable radio systems and provide wireless Ethernet connectivity.

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