COMSovereign Acquires RF Engineering & Energy Resource, Adding Advanced Antenna Design Capabilities and Telecom Network Sales Channels
DALLAS, July 16, 2021 /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 acquired RF Engineering & Energy Resource ("RFEQ"), a specialist in the design, outsourced manufacturing and distribution of ultra-high performance microwave antennas and other branded solutions for the wireless and wireline industries in the United States and Latin America.
Terms of the transaction include total consideration of approximately $2.2 million worth of shares of restricted common stock and $550,000 in cash.
"RFEQ has established itself as one of the world's leading specialists in high performance antenna design and has been an important partner and distributor of Licensed Microwave Antennas Systems for nearly two decades. This accretive acquisition brings many immediate benefits to COMSovereign including enhancing our in-house wireless product development capabilities, adding exceptionally talented and experienced engineers to our team, and contributing a fully developed sales and distribution channel serving tier-one customers," sad Dan Hodges, Chairman and CEO of COMSovereign Holding Corp. "We are looking forward to having Thomas Mansfield and the entire RFEQ team join the COMSovereign family."
About COMSovereign Holding Corp.
About RF Engineering & Energy Resource
Steve Gersten, Director of Investor Relations
Media Relations for COMSovereign Holding Corp.:
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SOURCE COMSovereign Holding Corp.
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