COMSovereign acquires Sky Sapience
Dallas, TX-based COMSovereign Holding Corp. announced on March 1 the acquisition of Israel-based Sky Sapience, a top developer of fielded tethered aerial rotorcraft platforms for defense, homeland security and commercial markets. The total purchase price was approximately $12.7 million, consisting of $2.7 million in cash and 2.55 million shares of common stock.
Since its founding in 2010, Sky Sapience’s tethered hovering technology has provided long-duration, mobile and all-weather Intelligence, Surveillance and Reconnaissance (“ISR”) capabilities to customers worldwide for both land and marine based applications. Sky Sapience’s flagship HoverMast-line of quadrotor tethered drones feature uninterruptible ground-based power, fiber optic communications for cyber immunity, and the ability to operate in GPS denied environments, delivering dramatically improved situational awareness and communications capabilities to users. The HoverMast is utilized in Israel for various applications and is also deployed in several international markets.
“The benefits of tethered aerial platforms in providing critical communications during emergencies or enhanced security and situational awareness through 24×7 aerial monitoring of critical infrastructure and along national borders, is well known. That is why Sky Sapience has built a significant backlog and business pipeline for the HoverMast which we believe can also be a perfect solution for many immediate unmet needs in DHS and DOD here in the United States as well,” said Chairman and CEO of COMSovereign Holding Corp. Dan Hodges. “Furthermore, Sky Sapience’s unique fiber optic tether technology will allow us to implement full 4G or 5G airborne networks simultaneously with advanced surveillance payloads in a single solution, a significant competitive differentiator, bringing valuable new synergies to our aerial platform business.
“Sky Sapience’s tethered hovering technology is an ideal complement to COMSovereign’s aerial platform business, extending its capabilities for applications ranging from airborne wireless cellular networks to providing enhanced security on national borders where the HoverMast is already deployed by customers. We look forward to joining COMSovereign and to quickly integrate our technologies so that we can meet the evolving requirements of government, military and commercial end users for rapidly deployable, communications and aerial monitoring solutions,” said Gabriel Shachor, CEO and founder, Sky Sapience.