{"id":476112,"date":"2021-04-14T08:04:19","date_gmt":"2021-04-14T12:04:19","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/comsovereign-expands-its-advanced-wireless-signal-processing-capabilities-with-the-acquisition-of-innovation-digital-llc\/"},"modified":"2021-04-14T08:04:19","modified_gmt":"2021-04-14T12:04:19","slug":"comsovereign-expands-its-advanced-wireless-signal-processing-capabilities-with-the-acquisition-of-innovation-digital-llc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/comsovereign-expands-its-advanced-wireless-signal-processing-capabilities-with-the-acquisition-of-innovation-digital-llc\/","title":{"rendered":"COMSovereign Expands its Advanced Wireless Signal Processing Capabilities with the Acquisition of Innovation Digital, LLC"},"content":{"rendered":"
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– Acquisition Brings Unmatched Digital Signal Processing Expertise, Patented Portfolio of Algorithms to Enable Development of High-Performance Communications Products and Licensing Revenue Stream –<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n DALLAS<\/span>, April 14, 2021<\/span> \/PRNewswire\/ —\u00a0COMSovereign 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 is acquiring Innovation Digital, LLC<\/a> (“Innovation Digital”), a premier developer of “beyond state-of-the-art” mixed analog\/digital signal processing solutions, intellectual property (IP) licensing, design and consulting services. <\/p>\n

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Innovation Digital’s signal processing techniques and IP have significantly enhanced the bandwidth and accuracy of RF transceiver systems and have provided enabling technologies in the fields of communications and RADAR systems, signals intelligence (SIGINT) and electronic warfare (EW), test and measurement systems, and semiconductor devices.<\/p>\n

Terms of the transaction include total consideration of $8 million<\/span> consisting of $1.6 million<\/span> in cash and convertible debt and $6.4 million<\/span> worth of shares of restricted common stock. The transaction is expected to close within approximately 10 days subject to traditional closing conditions. Following the close of the transaction, Dr. Scott Velasquez<\/span> will assume the role of Chief Research Officer for COMSovereign including the oversight and management of the Lextrum, VEO and Innovation Digital business units.<\/p>\n

Transaction Highlights<\/p>\n