Acquisition also allows company to add “Sub-6 GHz” backhaul for public and private networks.
COMSovereign, a 4G LTE Advanced and 5G communication systems and solutions developer, recently announced it acquired Fastback Networks. The transaction includes all of Fastback’s operations, radio designs, customers and intellectual property. Acquisition terms include total consideration of approximately $14 million, which comprises cash, debentures and convertible debentures.
Fastback Networks delivers technology for future mobile infrastructure. The company’s solutions also allow network operators to expand and enhance their services, as well as let private networks secure, monitor and manage operations through high-capacity data connectivity. Fastback has been able to view the challenges of 4G and 5G LTE deployment with fresh eyes and new ideas to create mobile backhaul solutions that will move the mobile future forward—quickly.
COMSovereign will gain an installed base of tier one mobile network operator customers in North America by acquiring Fastback. Additionally, COMSovereign will now have access to a valuable IP (intellectual property) portfolio that has 65 granted and six pending patents. The active patents cover a lot of the key systems and methods that are critical to 5G wireless networking. These include Signal Processing, Adaptive Antennas, Beam Forming/Steering, Self-Optimizing Networks, Spectrum Sharing and Hybrid Band Operations.
“We are pleased to have completed the Fastback transaction, expanding our installed base of tier one customers and bringing with it, broad and early patent coverage of many critical 5G enabling technologies,” COMSovereign Chief Technology Officer Dr. Dustin McIntire said in a statement. “We intend to quickly integrate Fastback into our operations so we can capitalize on growing customer interest in 4G LTE Advanced, 5G, and IAB small cells with integrated access and backhaul utilizing this unique IP.”
Since Fastback was founded in 2010, it has been a leader in the development and commercialization of its IBR (intelligent backhaul radio) systems that deliver high-performance wireless connectivity to virtually any location including those challenged by Non-Line of Sight limitations. The company’s advanced IBR products help operators economically add capacity and density to their macrocells, as well as expand service coverage density with small cells. These solutions also allow operators to provide temporary cellular and data service utilizing mobile and portable radio systems and provide wireless Ethernet connectivity.
Joe Dyton can be reached at firstname.lastname@example.org.