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COMSovereign Signs LOI to Acquire Virtual Network Communications to Expand 5G Networking Solution Portfolio
Tuesday 03 March 2020

3 March 2020 - Texas, US-based 5G connectivity and data transmission systems company COMSovereign Holding Corp. (OTCQB: COMS) has signed a letter of intent to acquire Virtual Network Communications, Inc. (VNC), a developer of fixed and mobile broadband communications solutions for wireless networks to strengthen portfolio of 5G networking solutions, the company said.

Terms of the transaction were not disclosed.

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.

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.

Virtual Network Communications produces deployable broadband communications equipment and services designed to support advanced wireless networks providing mission critical communications for Public Safety, Homeland Security, Department of Defense and commercial Private Network users.

COMSovereign Holding Corp. (OTCQB: COMS) has assembled a portfolio of communications technology companies with combined capabilities with the objective of enabling connectivity across the entire data transmission spectrum.
Date Published: 03/03/2020
Target: Virtual Network Communications, Inc
Country: USA
Sector: Telecommunications
Type: Corporate acquisition
Status: Agreed
Buyer: COMSovereign Holding Corp
Terms of the deal were not disclosed