Transaction Continues Business Transition,
Reduces Operating Expenses
DALLAS, Jan. 5, 2023
/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 today announced
that it has entered into a settlement agreement and sale of
RVision, Inc. ("RVision")
The Company has agreed to sell all the issued and outstanding
capital stock of RVision to the buyers in exchange for the
settlement of two outstanding lawsuits.
David Knight, CEO and President
of COMSovereign Holding Corp., said, "The disposition of RVision is
another step in our ongoing business transition, reducing our
non-wireless connectivity products and associated operating
expenses, while eliminating the uncertainties and costs of related
litigation."
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 telecom solutions
to network operators and enterprises. For more information about
COMSovereign, please visit www.COMSovereign.com.
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. 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
and
Media Relations for COMSovereign Holding Corp.:
Michael Glickman
MWGCO, Inc.
917-397-2272
mike@mwgco.net
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SOURCE COMSovereign Holding Corp.