COMSovereign, a U.S.-based developer of 4G LTE Advanced and 5G Communication Systems and Solutions, 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.
Highlights of the transaction:
- 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."
