E-Space Announces Definitive Agreement to Acquire CommAgility from the Wireless Telecom Group
Transaction will Provide E-Space with Proven 5G Source Code and an Experienced Dedicated In-House Hardware and Software Development Team
TOULOUSE, France, Dec. 5, 2022 /PRNewswire/ -- E-Space, a global space company focused on bridging Earth and space with the world's most sustainable low Earth orbit (LEO) network, announced today it entered into a definitive agreement to acquire CommAgility from the Wireless Telecom Group, Inc. (NYSE: WTT). 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.
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.
Greg Wyler, E-Space founder, chairman and CEO stated, "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. 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."
Tim Whelan, CEO of Wireless Telecom Group, Inc., commented, "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. 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.
Wireless Telecom Group, Inc., comprised of Boonton, Holzworth and Noisecom, is a global designer and manufacturer of advanced RF and microwave components, modules, systems and instruments. Serving the wireless, telecommunication, satellite, military, aerospace and semiconductor industries, Wireless Telecom Group products enable innovation across a wide range of traditional and emerging wireless technologies. With a unique set of high-performance products including peak power meters, signal generators, phase noise analyzers, signal processing modules, noise sources and programmable noise generators, Wireless Telecom Group enables the development, testing, and deployment of wireless technologies around the globe. Wireless Telecom Group is headquartered in Parsippany, New Jersey, in the New York City metropolitan area, and maintains a global network of Sales and Service offices for excellent product service and support. Wireless Telecom Group's website address is http://www.wirelesstelecomgroup.com.
E-Space is a global space company focused on bridging Earth and space with the world's most sustainable low Earth orbit (LEO) network that is expected to reach over one hundred thousand multi-application communication satellites to help businesses and governments securely and affordably access the power of space to solve problems on Earth. Founded by industry pioneer Greg Wyler, E-Space is focused on democratizing space and transforming industries by bringing down the cost of space-based communications, raising the level of satellite system resiliency and setting a new standard in sustainable space infrastructure that will effectively minimize and reduce space debris and destruction while preserving access to space for future generations. Learn more about the Company at e-space.com, or follow E-Space on LinkedIn and Instagram.
Copyright © 2022 E-Space. All rights reserved. E-Space and the E-Space logo are registered trademarks of ESpace, Inc. All other product or company names mentioned are used for identification purposes only and may be trademarks of their respective owners.
E-Space Media Contact:
Chris Phillips, vice president, PR & Communications: firstname.lastname@example.org; +1 (917) 974-1667
Wireless Telecom Group Media/Investor Contact:
Mike Kandell, chief financial officer, +1 (973) 386-9696
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