COMSovereign Acquires Innovation Digital, LLC
April 14, 2021
COMSovereign Holding Corp. (Nasdaq: COMS), a Dallas-based developer of 4G/5G communications systems, announced the acquisition of Innovation Digital, LLC, a developer of advanced mixed analog/digital signal processing solutions and IP. The deal totals $8.0 million in consideration (approximately $1.6M cash/convertible debt and $6.4M in restricted common stock), brings a portfolio of 21+ U.S. patents, is expected to contribute roughly $3M in licensing revenue this year, and names Dr. Scott Velasquez as COMSovereign's Chief Research Officer.
- Buyers
- COMSovereign Holding Corp.
- Targets
- Innovation Digital, LLC
- Industry
- Telecommunications
- Location
- United States
- Transaction Type
- Buyout
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