DALLAS, March 31, 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 that it has executed an
agreement to acquire RVision, Inc. ("RVision"), a developer of
technologically advanced, environmentally hardened video and
communications products and physical security solutions designed
for government and private sector commercial industries.
Terms of the transaction include total consideration of
approximately $5.58 million
consisting exclusively of shares of restricted common stock. The
transaction is expected to close within approximately 15 days
subject to traditional closing conditions.
- RVision has been serving the needs of governments and the
military for nearly two decades with sophisticated, environmentally
rugged optical and infrared cameras, hardened processors, custom
tactical video hardware, software solutions, and related
- RVision also brings Nano-Defractive Optics with integrated,
Ai-driven electro-optical sensors and communication network
connectivity making it the ideal backbone for smart city/smart
- RVision currently serves government and military customers in
the U.S. and around the globe through multi-year contracts.
Smart Cities and Smart Campuses (educational and industrial) are
urban areas designed to integrate advanced technologies including
IoT ("Internet of Things"), AI ("Artificial Intelligence"), machine
learning, Big Data, and sustainable or "green" energy systems to
benefit and secure the daily lives of its residents. Around the
world today, these technologies are being deployed to efficiently
improve public services and safety through enhancements to
everything from mass transportation and waste management to the
real-time monitoring of environmental conditions including air and
water quality. Critical to smart city initiatives is the ability to
create and deploy energy-efficient, fully integrated,
network-connected solutions such as smart cameras and sensor
"RVision, under the leadership of its founder, Brian Kelly, has built a global network of
premier customers across government and public sectors including
the U.S. and foreign allied militaries, thanks to their focus on
technical innovation in the areas of electro-optical sensors which
can immediately benefit our aerial platform business. Furthermore,
its unique products, combined with our advanced access and backhaul
radio technologies, can play a vital role in bringing the vision of
5G-enabled Smart Cities and Campuses to reality," said Dr.
Dustin McIntire, CTO of
RVision CEO Brian Kelly will
remain in the leadership role at the company while also assuming
the elected role of Executive Vice President of Business
Development for COMSovereign. Mr. Kelly stated, "I am excited to
become a part of COMSovereign, a company that has built an
extremely robust product and technology portfolio and is led by a
visionary team of professionals who all share a passion and vision
for the future of communications."
Dr. McIntire concluded, "Over his successful career of
twenty-four years, Brian Kelly has
been a visionary himself and a noted subject matter expert in the
surveillance and physical security sector. He has led his team to
meet sophisticated, physical security requirements for governmental
and commercial customers while developing innovative imaging
systems to solve some of the most challenging issues faced by the
US Departments of Defense and Homeland Security, and foreign allied
country Ministries of Defense."
For more information about COMSovereign, please visit
www.COMSovereign.com and connect with us on Facebook and
About COMSovereign Holding Corp.
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
About RVision, Inc.
RVision develops and manufactures
technologically advanced, environmentally hardened video products
and physical security solutions for government and private sectors.
Products incorporate both infrared and daylight optical dual
sensors, scene awareness detection algorithms, and an all-weather,
multiple-sensor surveillance platform with the ability to
pan/tilt/zoom in all directions. RVision markets and integrates
waterside, land-based, and mobile mounted security systems that
meet the security requirements of facilities such as military
bases, military and commercial ports, drilling rigs, power and
petrochemical plants, airports, and water treatment facilities.
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
Steve Gersten, Director of
COMSovereign Holding Corp.
External Investor Relations:
Chris Tyson, Executive Vice
MZ Group - MZ North America
Media Relations for COMSovereign Holding Corp.:
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