COMSovereign Holding Corp., the Dallas-based developer of 4G LTE Advanced and 5G communication systems and solutions, is selling its Israel-based Sky Sapience tethered drone unit to Titan Innovations for $1.8 million in an all-cash deal.
In the transaction, Titan will acquire Sky Sapience, which includes all business assets and intellectual property. The deal will allow COMSovereign to refocus efforts on its 4G LTE and 5G wireless connectivity solutions, the company said.
“We’re pleased to have reached an agreement for the sale of SKS as we continue to refocus the business around our core wireless connectivity technologies and solutions,” David Knight, CEO and president of COMSovereign Holding Corp., said in a statement. “In addition to refining our focus on wireless connectivity, this transaction aligns with the goals of our transition plan by reducing the complexity of the company, decreasing our go-forward operating expenses, and [improving] our balance sheet.”
Israel-based Titan Innovations develops specialized, fully integrated unmanned systems and solutions designed for civilian and military applications. The company provides customers with comprehensive systems engineering and integration services including software and control expertise in the field of robotics, autonomy, navigation, and communication with hardware sourced from leading global manufacturers, the company said.
Drones feature proprietary fiber optic tether technology
“Sky Sapience’s proprietary fiber optic tether technology makes it an ideal platform for military, borders, and civilian applications,” Titan Innovations CEO Yahav Regev said in the statement. “The company will expand the variety of companies and the capabilities of the group in the international market. Combined with our deep expertise in advanced hardware and software technologies inside our ecosystem, we believe that the SKS platform will enable us to remain at the forefront of autonomous systems development for our customers, enabling them to meet their unique mission requirements.”
COMSovereign says it has built a portfolio of communications technology companies that “enhance connectivity across the entire data transmission spectrum.”
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