COMSovereign to acquire Virtual Network Communications
COMSovereign Holding Corp. of Dallas, TX announced on February 27 that it has signed a Letter of Intent to acquire Virtual Network Communications, Inc., a developer of fixed and mobile broadband communications solutions for wireless networks operated by commercial, enterprise, government and defense customers.
The parties currently expect the transaction to be completed on or before April 15th subject to the satisfactory completion of due diligence and the negotiation and execution of a definitive acquisition agreement. The Company can provide no assurance that it will complete its due diligence review or that it will be able to successfully negotiate and execute a definitive acquisition agreement.
Dan Hodges, chairman and CEO of COMSovereign Holding Corp., said, “VNC’s capabilities can serve as a cornerstone in our strategic vision to make COMSovereign into one of the only US-based providers of connectivity solutions that span the entire data transmission spectrum. Through a combination of proprietary hardware and software, and a growing list of tier-one commercial and national security customers, this transaction can deliver both near-term synergies and long-term value to our shareholders and customers in 4G and 5G infrastructures, and those already planning for ‘nG’ and beyond.”