COMSovereign Holding Corp (NASDAQ: COMS) announced the acquisition of Israel’s fielded tethered aerial rotorcraft platforms for defense, homeland security, and commercial market developer Sky Sapience for a purchase price of $12.7 million, consisting of $2.7 million in cash and 2.55 million COMS shares.
- The acquisition is slated to deliver an installed base of global customers, including Israeli security forces. It includes the Aerial National Security platform offerings for government customers, including the U.S. Department of Homeland Security (DHS) and Department of Defense (DOD). The company’s innovative technologies including a fiber optic tether for secure, high-capacity communications, including 4G and 5G wireless network support.
- The U.S. and Israel domestic production are estimated to support current clients while increasing global market reach to customers seeking state-of-the-art Surveillance and Reconnaissance (ISR) capabilities or looking to deploy commercial 4G and 5G networks quickly.
- Sky Sapience’s tethered hovering technology offers long-duration, mobile, and all-weather Intelligence, Surveillance, and Reconnaissance (ISR) abilities to global customers for both land and marine-based applications. The HoverMast is applied in Israel for various applications and is also positioned in several international markets.
- “The benefits of tethered aerial platforms in providing critical communications during emergencies or enhanced security and situational awareness through 24x7 aerial monitoring of critical infrastructure and along national borders is well known. That is why Sky Sapience has built a significant backlog and business pipeline for the HoverMast, which we believe can also be a perfect solution for many immediate unmet needs in DHS and DOD here in the United States as well,” said COMSovereign CEO Dan Hodges.
- COMSovereign recently raised $27.6 million in a share sale.
- Price action: COMS stock was up 14.8% at $3.79 on the last check Monday.
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