March 1, 2021
COMSovereign Holding Corp., a U.S.-based developer of 4G LTE and advanced 5G communications systems, has announced the acquisition of Israel-based Sky Sapience, a developer of field tethered aerial rotorcraft platforms for defense, homeland security and commercial markets. The $12.7 million purchase price consists of $2.7 million in cash and 2.55 million shares of common stock.
Founded in 2010, Sky Sapience’s tethered hovering technology has provided long-duration, mobile and all-weather capabilities for intelligence, surveillance and reconnaissance (ISR) missions for land and marine-based applications. The company’s flagship HoverMast line of quadrotor tethered drones feature uninterruptible ground-based power, fiber optic communications and the ability to operate in GPS-denied environments.
“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,” said Dan Hodges, chairman and CEO of COMSovereign. “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 [Department of Homeland Security] and [Department of Defense] here in the U.S. 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 security on national borders, where the HoverMast is already deployed by customers,” said Gabriel Shachor, CEO and founder of Sky Sapience. “We look forward to joining COMSovereign and to quickly integrate our technologies so we can meet the evolving requirements of government, military and commercial end users for rapidly deployable, communications and aerial monitoring solutions.”