E-Space to Acquire CommAgility for $14.5M
Satellite startup E-Space announced a deal on Monday to acquire CommAgility from the Wireless Telecom Group, Inc. for $14.5 million.
E-Space said CommAgility is the largest stand-alone developer of embedded signal processing and radio frequency (RF) modules. The company has LTE PHY/stack source code for commercial grade 4G and 5G mobile networks, air-to-ground (ATG), and satellite communications. Its software is used on more than 50,000 terrestrial base stations and is used for ATG and commercial satellites.
Wireless Telecom Group shared the terms of the deal in a press release. The purchase price is $14.5 million, including $13.75 million in cash consideration and a $750,000 note payable, subject to agreed-upon reductions. Each companies’ board of directors approved the transaction. The deal is subject to regulatory approval and is expected to be completed by Jan. 31, 2023.
E-Space will bring on 50 full-time CommAgility employees, including key management. The new team members are located in Europe, with some based in Leicestershire, UK and the majority based in Duisburg, Germany.
“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,” committed E-Space founder and CEO Greg Wyler.
E-Space is the latest space venture from Wyler, who founded both O3b Networks and OneWeb. The company, first revealed in February, plans to build a multi-application satellite constellation that could potentially reach more than 100,000 satellites, serving business and government customers. Wyler said the constellation will emphasize a sustainable space infrastructure design.
E-Space said that CommAgility’s custom 3GPP 5G NTN (non-terrestrial networks) source code will accelerate its goals for 5G NTN, 5G-Advanced and 6G innovation, speed its satellite payload and customer use case development and advance its space-based connectivity solutions.