COMSovereign Holding has agreed to purchase all the equity interests of Fastback Networks for approximately $14M as part of efforts to expand its portfolio of 5G and wireless backhaul technology offerings.
The deal includes all intellectual property, operations and customers of Fastback and the companies expect to close the transaction within a month, subject to customary closing conditions, COMSovereign said Monday.
Founded in 2010, Fastback develops and commercializes intelligent backhaul radio platforms that deliver wireless connectivity to any location. The companyâs technology offerings include adaptive antennas, signal processing, hybrid band and spectrum sharing, self-optimizing networks, beamforming/steering and antenna arrays and its patent portfolio consists of 65 active patents and a dozen pending patents.
âThrough this acquisition, not only does COMSovereign immediately gain commercialized, market-tested 5G backhaul products to add to our offerings, but also gains access to a deep and valuable intellectual property portfolio which we intend to leverage to the benefit of our customers and stakeholders,â said Dan Hodges, chairman and CEO of COMSovereign.
The transaction came a month after COMSovereign closed its acquisition of Virtual Network Communications. COMSovereign oversees a portfolio of communications tech companies with combined capabilities to deliver LTE Advanced and 5G-NR telecom platforms to network operators worldwide.
