Friday, July 16, 2021 8:11:00 AM
July 16 2021 - 08:07AM
PR Newswire (US)
Alert
Share On Facebook
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.
COMSovereign Holding Corp. (PRNewsfoto/COMSovereign Holding Corp.)
Terms of the transaction include total consideration of approximately $2.2 million worth of shares of restricted common stock and $550,000 in cash.
Transaction Highlights
For over 20 years, RFEQ has been a leading provider of high-quality microwave antennas and accessories. Providing the industry's lowest cost of ownership, RFEQ has continued to innovate and expand recently announcing the industry's first Universal Licensed Microwave Antenna. Supporting frequencies from (6-42 GHz), customers can now reduce sparing costs and safely future proof their networks by leveraging this new Universal plug and play architecture.
RFEQ has been serving the needs of global customers with expertise in advanced connectivity solutions including antennas, cellular boosters / modems / routers, and IP-TV Solutions. RFEQ's go-to-market strategy has been to work with strategic North American Distributors that provide a diverse focus on both geographical location and vertical concentration. RFEQ currently serves tier-1 telecom customers in the United States and throughout Latin America including operators in Mexico such as Telcel, AT&T Mexico and Claro.
"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," said 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."
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 RF Engineering & Energy Resource
RF Engineering & Energy Resource provides product design, manufacturing outsourcing and distribution of various branded solutions for the wireless and wireline industries. Offering a diverse product array ranging from Ultra-High Performance Microwave Antennas (2.4 GHz to 80GHz), to (900Mhz-5.95GHz) Sector / Panel / Omni / Yagi; RF Engineering & Energy Resources supports the key manufacturers of today and through our universal interface, we can support your investment in the tomorrow.
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
Recent COMS News
- COMSovereign Regains Current Filer Status with Filing of 10-Qs for the Quarters Ended March 31, June 30, and September 30, 2023 • PR Newswire (US) • 01/10/2024 01:00:00 PM
- COMSovereign Files 10-K For the Year Ended December 31, 2022 • PR Newswire (US) • 12/07/2023 01:00:00 PM
- COMSovereign Announces Receipt of Additional Nasdaq Listing Determination • PR Newswire (US) • 11/22/2023 10:30:00 PM
- COMSovereign CTO Dr. Dustin McIntire to Lead 5G Architecture & Security Session at Cal Poly Pomona's National Science Foundation CyberCorps Program • PR Newswire (US) • 11/15/2023 01:00:00 PM
- COMSovereign Announces Receipt of Nasdaq Listing Determination; Company to Request Hearing and Further Stay • PR Newswire (US) • 10/20/2023 08:05:00 PM
- COMSovereign's Fastback Intelligent Backhaul Radios Deployed at the Nation's Leading Travel Stop Network to Dramatically Improving Connectivity • PR Newswire (US) • 10/19/2023 12:00:00 PM
- COMSovereign Adds Wireless Network Monitoring and Compliance Software-as-a-Service Capability Through Reseller Agreement with SIFF.IO • PR Newswire (US) • 10/18/2023 12:00:00 PM
- COMSovereign Holding Corp. CEO David Knight to Present at The ThinkEquity Conference on October 19, 2023 • PR Newswire (US) • 10/10/2023 02:45:00 PM
- COMSovereign Receives Notice from Nasdaq Regarding Delayed Quarterly Report • PR Newswire (US) • 08/22/2023 08:15:00 PM
- COMSovereign and Vercom Inc. Deploy Fastback Intelligent Backhaul Radios to Rapidly Restore Wireless Network Services After Outage • PR Newswire (US) • 06/14/2023 12:00:00 PM
- COMSovereign Receives Notice from Nasdaq Regarding Delayed Quarterly Report • PR Newswire (US) • 05/19/2023 08:05:00 PM
- COMSovereign Expands Latin American Business and Sales Capabilities Through New Reseller Agreement with CLAdirect • PR Newswire (US) • 05/02/2023 12:00:00 PM
- COMSovereign Names Bill White, CFE as New Independent Director and Chair of Audit Committee • PR Newswire (US) • 04/27/2023 12:00:00 PM
- COMSovereign Names Keith Kaczmarek as Chief Revenue Officer • PR Newswire (US) • 04/25/2023 12:00:00 PM
Axis Technologies Group and Carbonis Forge Ahead with New Digital Carbon Credit Technology • AXTG • Apr 24, 2024 3:00 AM
North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California • NBRI • Apr 23, 2024 9:41 AM
Epazz, Inc.: CryObo, Inc. solar Bitcoin operations will issue tokens • EPAZ • Apr 23, 2024 9:20 AM
Avant Technologies Launches Advanced AI Supercomputing Network and Expansive Data Solutions • AVAI • Apr 23, 2024 8:00 AM
BestGrowthStocks.com Issues Comprehensive Analysis of Triller Merger with AGBA Group Holding Limited • AGBA • Apr 22, 2024 1:00 PM
Cannabix Technologies to Present Marijuana Breathalyzer Technology at International Association for Chemical Testing (IACT) Conference in California • BLO • Apr 22, 2024 8:49 AM