ComSovereign’s newest deal eyes signal processing tech
ComSovereign has entered into yet another agreement for an acquisition to further build out its portfolio of wireless broadband technology amid the broader ongoing 5G network transformation.
This transaction announced Wednesday will see ComSovereign purchase signal processing system maker Innovation Digital for $8 million in cash, debt and stock. The cash and debt portion totals $1.6 million with the remaining $6.4 million consisting of restricted common stock.
Innovation Digital’s founder Dr. Scott Velazquez will transition to ComSovereign as chief research officer and is credited as a pioneer and expert in signal processing technology that mixes analog and digital techniques.
Other technologies of focus for Innovation Digital include radio frequency transceiver systems, signals intelligence, electronic warfare, test and measurement systems, and semiconductor devices.
All parties expect the deal to close within the next 10 days.
For Dallas-headquartered ComSovereign, this pending purchase only continues what has been a busy year-to-date for the company whose shares began trading on the NASDAQ stock market in February.
ComSovereign has also been active on the acquisition front with six deals since its launch in early 2020, including this most recent announcement involving Innovation Digital.
Those transactions have ranged in focus from communications devices, the networks, software and the supply chain that provides basic materials for the hardware.
Also this year, ComSovereign made a series of changes in its leadership team with the hire of veteran investment banker Martin Wade as chief financial officer and promotion from within of Bud Patterson to chief operating officer.