COMSovereign Holding has signed a letter of intent to buy Virtual Network Communications for an undisclosed sum as part of efforts to expand its portfolio of 5G networking platforms.
The companies expect to close the transaction by April 15, subject to the completion of due diligence review and execution of a definitive acquisition deal, COMSovereign said Thursday.
VNC is a Chantilly, Va.-based provider of mobile and fixed broadband communications equipment and services for wireless networks run by government, defense and commercial clients. Its products include instant deployable Micro LTE platforms, customer premises equipment and LTE small cell technology.
“Through a combination of proprietary hardware and software, and a growing list of tier-one commercial and national security customers, this transaction can deliver both near-term synergies and long-term value to our shareholders and customers in 4G and 5G infrastructures, and those already planning for 'nG' and beyond,” said Dan Hodges, chairman and CEO of COMSovereign.
COMSovereign oversees a portfolio of communications technology firms with combined capabilities to deliver LTE Advanced and 5G-NR telecom platforms to network operators worldwide.
