E-Space Announces Definitive Agreement to Acquire CommAgility
E-Space has entered into a definitive agreement to acquire CommAgility from the Wireless Telecom Group, Inc. CommAgility is the largest stand-alone developer of embedded signal processing and Radio Frequency (RF) modules, with its own LTE PHY/stack source code for commercial grade 4G and 5G mobile networks, air-to-ground (ATG), satellite communications (satcom) and related applications.
"We made a clear strategic decision to go with E-Space, which we believe helps unlock value for our shareholders and ensures our team and existing customers will be part of a thriving organization."
Tim Whelan, CEO of Wireless Telecom Group, Inc.
Integrating CommAgility's custom 3GPP 5G NTN (Non-Terrestrial Networks) source code into E-Space's vertically integrated capabilities will enable E-Space to accelerate 5G NTN, 5G-Advanced and 6G innovation, speed its satellite payload and customer use case development and continuously advance its space-based connectivity solutions. Today, CommAgility's proven software already drives over 50,000 terrestrial base stations and is used for ATG and commercial satellites.
"We look forward to welcoming CommAgility into Team E-Space. Their existing, proven and deep 5G code base along with their incredible team experience would have taken years to recreate," said Greg Wyler, E-Space founder, chairman and CEO. This puts us in a unique and leading position for the deployment of our space-based technologies. We will continue to invest heavily in this code base to enable 5G-Advanced and 6G technologies which will provide tremendous value to customers."
Sale of CommAgility was a Strategic Decision
"When we began to evaluate strategic options for our CommAgility business, we held numerous conversations with multiple space-based companies. It was during this process that E-Space's incredible vision, commitment to innovation and focus on end-user requirements ignited our team's excitement," said Tim Whelan, CEO of Wireless Telecom Group, Inc. "We made a clear strategic decision to go with E-Space, which we believe helps unlock value for our shareholders and ensures our team and existing customers will be part of a thriving organization."
The transaction, which is expected to be completed no later than January 31, 2023, is subject to customary closing conditions, including regulatory approvals. Upon completion, E-Space will add 50 full-time CommAgility employees, inclusive of key management. The new team members are located in Europe, with some based in Leicestershire, UK and the majority based in Duisberg, Germany.
(Source: E-Space news release)