COMSovereign Holding Corp., a U.S.-based developer of 4G LTE advanced and 5G communication systems and solutions, announced it has completed the acquisition of Skyline Technology Partners LLC (Fastback Networks). The transaction includes all operations, radio designs, customers and intellectual property of Fastback.
Terms of the transaction include total consideration of approximately $14 million consisting of cash, debentures, and convertible debentures.
In addition to an installed base of tier-one mobile network operator customers in North America, the acquisition is highlighted by a valuable intellectual property portfolio of 65 granted and six pending patents. These active patents cover many of the key systems and methods vital to 5G wireless networking including signal processing, adaptive antennas, beamforming/steering, self-optimizing networks, spectrum sharing and hybrid band operations.
Since its founding in 2010, Fastback has been a leader in the development and commercialization of its intelligent backhaul radio systems that deliver high-performance wireless connectivity to virtually any location including those challenged by non-line of sight limitations.
Fastback’s advanced IBR products allow operators add capacity and density to their macrocells and expand service coverage density with small cells. These solutions also allow operators to provide temporary cellular and data service utilizing mobile/portable radio systems and provide wireless Ethernet connectivity.