DALLAS, March 1, 2021 /PRNewswire/ -- COMSovereign
Holding Corp. (NASDAQ: COMS) ("COMSovereign" or "Company"), a
U.S.-based developer of 4G LTE Advanced and 5G Communication
Systems and Solutions, today announced the acquisition of
Israel-based Sky Sapience, a top
developer of fielded tethered aerial rotorcraft platforms for
defense, homeland security and commercial markets. The total
purchase price was approximately $12.7
million, consisting of $2.7
million in cash and 2.55 million shares of common stock.
Transaction Highlights
- Acquisition delivers installed base of global customers
including Israeli security forces
- Aerial National Security platform offerings for government
customers including U.S. Department of Homeland Security (DHS) and
Department of Defense (DOD)
- Innovative technologies including a fiber optic tether which
enables secure, high-capacity communications including support for
commercial 4G and 5G wireless networks
- Domestic production in U.S. and in Israel to support current clients while
expanding global market reach to customers seeking state-of-the-art
Surveillance and Reconnaissance (ISR) capabilities or looking to
rapidly deploy commercial 4G or 5G networks
"Sky Sapience's unique fiber optic tether technology will
allow us to implement full 4G or 5G airborne networks
simultaneously with advanced surveillance payloads in a single
solution, a significant competitive differentiator."
Since its founding in 2010, Sky Sapience's tethered hovering
technology has provided long-duration, mobile and all-weather
Intelligence, Surveillance and Reconnaissance ("ISR") capabilities
to customers worldwide for both land and marine based applications.
Sky Sapience's flagship HoverMast-line of quadrotor tethered drones
feature uninterruptible ground-based power, fiber optic
communications for cyber immunity, and the ability to operate in
GPS denied environments, delivering dramatically improved
situational awareness and communications capabilities to users. The
HoverMast is utilized in Israel
for various applications and is also deployed in several
international markets.
"The benefits of tethered aerial platforms in providing critical
communications during emergencies or enhanced security and
situational awareness through 24x7 aerial monitoring of critical
infrastructure and along national borders, is well known. That is
why Sky Sapience has built a significant backlog and business
pipeline for the HoverMast which we believe can also be a perfect
solution for many immediate unmet needs in DHS and DOD here in
the United States as well," said
Chairman and CEO of COMSovereign Holding Corp., Dan Hodges. "Furthermore, Sky Sapience's unique
fiber optic tether technology will allow us to implement full 4G or
5G airborne networks simultaneously with advanced surveillance
payloads in a single solution, a significant competitive
differentiator, bringing valuable new synergies to our aerial
platform business.
"Sky Sapience's tethered hovering technology is an ideal
complement to COMSovereign's aerial platform business, extending
its capabilities for applications ranging from airborne wireless
cellular networks to providing enhanced security on national
borders where the HoverMast is already deployed by customers. We
look forward to joining COMSovereign and to quickly integrate our
technologies so that we can meet the evolving requirements of
government, military and commercial end users for rapidly
deployable, communications and aerial monitoring solutions," said
Gabriel Shachor, CEO and Founder, Sky
Sapience.
For more information about COMSovereign, please visit
www.COMSovereign.com and connect with us on Facebook and
Twitter.
About COMSovereign Holding Corp.
COMSovereign Holding
Corp. (Nasdaq: COMS) has assembled a portfolio of communications
technology companies that enhance connectivity across the entire
data transmission spectrum. Through strategic acquisitions and
organic research and development efforts, COMSovereign has become a
U.S.-based communications provider able to provide 4G LTE Advanced
and 5G-NR telecom solutions to network operators and enterprises.
For more information about COMSovereign, please visit
www.COMSovereign.com.
About Sky Sapience
Sky Sapience is the leading
provider of tethered hovering platforms which are field proven
worldwide. The company was founded on vast military, business and
engineering experience. Its dedicated team members are experts in
the fields of aeronautics, robotics, computer programming,
electronics and business management. The company's flagship product
series, the HoverMast tethered hovering platform, offers an
exceptional size-to-payload ratio, visibility, durability and
stability in all weather and light conditions. The HoverMast serves
leading organizations in military and homeland security settings,
as well as in enterprise and commercial environments worldwide.
Forward-Looking Statements
Certain statements in this
press release that are not historical facts are forward-looking
statements that reflect management's current expectations,
assumptions, and estimates of future performance and economic
conditions, and involve risks and uncertainties that could cause
actual results to differ materially from those anticipated by the
statements made herein. Forward-looking statements are generally
identifiable by the use of forward-looking terminology such as
"believe," "expects," "may," "looks to," "will," "should," "plan,"
"intend," "on condition," "target," "see," "potential,"
"estimates," "preliminary," or "anticipates" or the negative
thereof or comparable terminology, or by discussion of strategy or
goals or other future events, circumstances, or effects. Moreover,
forward-looking statements in this release include, but are not
limited to, the impact of the current COVID-19 pandemic, which may
limit access to the Company's facilities, customers, management,
support staff, and professional advisors, and to develop and
deliver advanced voice and data communications systems, demand for
the Company's products and services, economic conditions in the
U.S. and worldwide, and the Company's ability to recruit and retain
management, technical, and sales personnel. Further information
relating to factors that may impact the Company's results and
forward-looking statements are disclosed in the Company's filings
with the SEC. The forward-looking statements contained in this
press release are made as of the date of this press release, and
the Company disclaims any intention or obligation, other than
imposed by law, to update or revise any forward-looking statements,
whether as a result of new information, future events, or
otherwise.
Contacts:
Steve Gersten, Director of
Investor Relations
COMSovereign Holding Corp.
813-334-9745
investors@comsovereign.com
External Investor Relations:
Chris Tyson, Executive Vice
President
MZ Group - MZ North America
949-491-8235
COMS@mzgroup.us
www.mzgroup.us
and
Media Relations for COMSovereign Holding Corp.:
Michael Glickman
MWGCO, Inc.
917-397-2272
mike@mwgco.net
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