5G outfit ComSovereign to purchase radio maker
- By Ross Wilkers
- Aug 24, 2020
ComSovereign Holding Corp., the consortium of businesses focused on 5G technology founded last year, has identified a second acquisition in less than two months focused on wireless hardware and other systems.
Dallas-based ComSovereign said Monday it has agreed to pay $14 million in cash and bonds for Fastback Networks, which develops intelligent backhaul radios for use in locations where wireless connectivity is limited.
Founded in 2010 as Skyline Technology Partners, Fastback designed its systems to work in places challenged by non-line of sight limitations and help network operators acquire temporary cellular and data service with mobile or portable radio systems.
Both companies expect to close the transaction within the next 30 days. This announcement comes in the wake of ComSovereign’s purchase last month of Virtual Network Communications, which makes mobile and fixed broadband communications equipment.
The pending deal for Fastback is poised to be ComSovereign’s third of this year, including another acquisition in March of Fast Plastic Parts to establish a U.S.-based plastics and metals production supply chain.
Ross Wilkers is a senior staff writer for Washington Technology. He can be reached at firstname.lastname@example.org. Follow him on Twitter: @rosswilkers. Also connect with him on LinkedIn.