COMSovereign Holding Corp. (NASDAQ: COMS) (“COMSovereign” or “Company”), a U.S.-based developer of 4G LTE Advanced and 5G Communication Systems and Solutions, today announced that it is acquiring SAGUNA Network LTD (“SAGUNA”), the premier Multi-Access Edge Computing (“MEC”) cloud software developer, significantly expanding its software technology offerings powering 5G wireless networks.
SAGUNA, based in Yokneam, Israel, is the software developer behind the award-winning SAGUNA Edge Cloud which transforms communication networks into powerful cloud-computing infrastructures for applications and services including augmented and virtual reality, IoT, edge analytics, high-definition video, connected cars, autonomous drones and more. SAGUNA allows these next generation applications to run closer to the user in a wireless network, dramatically cutting down on latency which is a fundamental and critical requirement of 5G. Their Edge Cloud operates on general purpose computing hardware but can be optimized to support the latest AI and machine learning features through dedicated accelerators.
Terms of the transaction include total consideration of $13.1 million consisting exclusively of shares of restricted common stock. The transaction is expected to close within approximately 15 days subject to traditional closing conditions.
- SAGUNA Edge Cloud MEC solution simplifies and accelerates development, deployment, management and automation of edge cloud platforms and edge applications. It is fully compliant with the ETSI MEC standard and 3GPP 5G specifications, providing Ultra-Reliable and Low Latency Communication (URLLC) enabling 5G features over existing 4G networks and setting the stage for 5G roll-out.
- SAGUNA is one of the industry’s leading edge computing software companies and was recently chosen by Hewlett Packard Enterprise as a core mobile edge computing platform for the globe telecom 5G innovation lab in the Philippines.
- Acquisition brings existing revenue to COMSovereign and extends its direct sales reach into new market segments with new customers and partners.
“COMSovereign’s mission has been to enable the 4G LTE wireless networks of today and the emerging 5G networks now being deployed by addressing the critical technical and physical challenges facing operators who need to reliably expand connectivity for customers. With the acquisition of SAGUNA, we are taking a huge step towards a complete software-defined 5G network, where cloud-based edge computing can provide a single, converged platform for the RAN, Core, and MEC, an industry first,” said Dr. Dustin McIntire, Chief Technology Officer of COMSovereign.
Ido Gur, CEO of SAGUNA commented, “This is an exciting development for our team because we are confident that SAGUNA’s cloud-based mobile edge computing products will greatly complement COMSovereign existing solutions. I believe that together, COMSovereign and SAGUNA will be able to leverage many immediate synergies to accelerate adoption of our combined technologies to deliver the most advanced wireless compute solutions in the market today.”