COMSovereign Holding Corp., a 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, all-cash.
In this transaction, Titan will acquire Sky Sapiens, including all business assets and intellectual property. The deal will allow COMSovereign to refocus his efforts on 4G LTE and 5G wireless connectivity solutions, the company said.
COMSovereign Holding Corp. CEO and President David Knight said: “In addition to improving our focus on wireless connectivity, this transaction will reduce the complexity of the company, reduce our operating expenses going forward, and is in line with our transition plan goals. [improving] our balance sheet. ”
Israel-based Titan Innovations develops specialized fully integrated unmanned systems and solutions designed for civil and military applications. The company offers its customers comprehensive system engineering and integration services, including software and control expertise in the areas of robotics, autonomy, navigation, and communication with hardware sourced from leading global manufacturers. .
Drone features proprietary fiber optic tether technology
“Sky Sapience’s proprietary fiber optic tether technology is an ideal platform for military, border and civilian applications,” said Yahav Regev, CEO of Titan Innovations, in a statement. “We will expand the diversity of our companies and the capabilities of our group in the international market. Combined with our deep expertise in advanced hardware and software technology within our ecosystem, the SKS platform will enable our customers to develop their autonomous systems We are confident that we will remain at the forefront and enable our customers to meet their unique mission requirements.”
COMSovereign says it has built a portfolio of communications technology companies that “strengthen connectivity across the entire data transmission spectrum.”
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