Home > News > featured news > COMSovereign Completes the Acquisition of the Majority of Outstanding Shares of SAGUNA Networks LTD

IT Systems Management

COMSovereign Completes the Acquisition of the Majority of Outstanding Shares of SAGUNA Networks LTD

COMSovereign | August 19, 2021

COMSovereign Holding Corp. a U.S.-based developer of 4G LTE Advanced and 5G Communication Systems and Solutions, today announced that it has completed the acquisition of the majority of outstanding shares of SAGUNA Networks LTD the premier Multi-Access Edge Computing cloud software developer, significantly expanding its software technology offerings powering 5G wireless networks.

Terms of the transaction include total consideration of $13.6 million in shares of restricted common stock. The Company expects to complete the transaction, subject to other customary closing conditions, in approximately 30 days in compliance with Israeli law.

SAGUNA, based in Yokneam, Israel, is the software developer behind the award-winning vEdge which transforms communication networks into powerful cloud-computing infrastructures for applications and services including augmented and virtual reality, the internet of things ("IoT"), edge analytics, high-definition video, connected cars, autonomous drones and more. SAGUNA allows these next generation applications to run closer to the user in a wireless network, dramatically cutting down on latency which is a fundamental and critical requirement of 5G. Their Edge Cloud operates on general purpose computing hardware but can be optimized to support the latest AI and machine learning features through dedicated accelerators. Recently, SAGUNA introduced its latest, groundbreaking solution called vEdge+ which integrates its MEC technology with UPF (User Plane Function) capabilities for packet routing and forwarding, interconnection to the Data Network, policy enforcement and data buffering, all designed and ready for 5G networks. SAGUNA'S MEC software is behind the SK Telecom Network in Jeonju, South Korea which is currently the world's fastest commercially deployed 5G network in the world (Source: OpenSignal, "Benchmarking the Global 5G Experience - April 2021"). For more information on Mobile Edge Computing in 5G networks, please view a primer published at IEEE.org. IEEE is the world's largest technical professional organization dedicated to advancing technology for the benefit of humanity.

"SAGUNA has the potential to be one of the most significant and transformative acquisitions ever made by COMSovereign because of the critical enabling role that Edge computing plays in 5G and beyond wireless networking. The promise of 5G; its increased speed, capacity, and significantly reduced latency, is predicated on the ability to move compute closer to the end user. Without edge computing, regardless if it is a smartphone, a smart city or factory, or any one of potentially billions of IoT devices which are now proliferating throughout our modern society, the 5G applications needed to support them will not operate effectively," said Dr. Dustin McIntire, Chief Technology Officer of COMSovereign. "SAGUNA's technology currently anchors the fastest measured 5G deployed network to date and its advancements into IoT has brought it accolades and an increasingly steady flow of contracts from some of the largest global telecommunications and technology companies such as Hewlett Packard Enterprise among others. Our teams are already fully committed to integrating the capabilities of SAGUNA's MEC into our full range of radio and networking product lines and are confident these efforts will produce some of the highest performing communications products in the market."

Ido Gur, CEO of SAGUNA commented, "The entire SAGUNA team is excited about the opportunity to join the COMSovereign organization as we have already begun working alongside many of their talented management and engineering teams. In just a short amount of time, we have already benefited from our collaboration thanks to COMSovereign's insights into the needs of commercial and government customers and their creative approach to technology innovation which has broadened our MEC horizons, applications, and market use cases. We couldn't be more pleased to be a part of what COMSovereign has built and is bringing to market."

About COMSovereign Holding Corp.
COMSovereign Holding Corp. (Nasdaq: COMS) has assembled a portfolio of communications technology companies that enhance connectivity across the entire network. By combining strategic acquisitions with organic research and development efforts, COMSovereign has built a U.S.-based communications solution provider able to deliver end-to-end 4G LTE Advanced and 5G-NR telecom solutions to network operators, enterprises, and governments.

About SAGUNA Networks LTD
SAGUNA, the Edge Cloud Computing pioneer, helps communication companies monetize, optimize & accelerate their networks. Our any-access Mobile-Edge-Compute cloud solutions transform networks into powerful cloud computing infrastructures for game-changing applications including augmented and virtual reality, gaming, IoT, edge analytics, 8K video, connected cars, smart cities, smart factories, autonomous drones, and more.

Forward-Looking Statements
Certain statements in this press release that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions, and estimates of future performance and economic conditions, and involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking terminology.

Spotlight

DocuSign vs Dropbox Sign: What's the difference?

Making the decision to use an electronic signature tool is a big step on the way to building an efficient agreement system. But not all e-signature providers are the same. Before you make that step, you want to make sure that you’re lined up in the right direction. Agreements don’t start or end when someone signs on the dotted d

More featured news

Spotlight

DocuSign vs Dropbox Sign: What's the difference?

Related News

Application Infrastructure, Storage Management

DataBank Introduces Innovative Approach to Building Next-Gen Data Centers

prnewswire | August 11, 2023

DataBank, a leading provider of enterprise-class edge colocation, interconnection, and managed services, announced today a new approach to building high-density data centers to accommodate High-Performance Computing (HPC). Enabling HPC, Universal Data Hall Design (UDHD) empowers businesses with the flexibility to support any deployment their workloads require. With a market expected to reach $103.74 billion by 2030, generative AI's accelerated adoption has driven an increase in demand for high-density colocation. As technology continues to advance, data centers must be able to scale and adapt quickly to handle an increasingly diverse range of workloads – from power-dense HPC clusters to sprawling hyperscale cloud installations to traditional raised-floor, enterprise colocation. "In order to future-proof their facilities, multi-tenant data center operators must rethink facility design, construction, and operations to allow for more flexibility and sustainability," said Eric Swartz, vice president of engineering at DataBank. "With UDHD, DataBank is able to accommodate hyperscale, traditional, and HPC all within the same, highly secure data hall." Key elements to DataBank's Next-Gen Data Centers implementing a Universal Data Hall Design are the traditional components of data center colocation with an eye toward flexibility and resiliency: Space - Starting with slab floor and all power and cooling infrastructure outside the data hall as the initial base, with raised floor and water to rack layers that easily can be added to any hall; this layered design approach allows any hall within the data center to be adjusted to customer needs. Power - Support for distribution as traditional 120/208V or high density 240/415V as whips or through busway without change to the supporting infrastructure. Cooling - With a closed chilled water loop and the layered design approach, each hall can independently support different cooling methods from flooded room to localized air delivery using raised floor and even water to the rack supporting rear door heat exchangers and/or direct chip cooling. This design renders the additional benefit of sustainability, as efficient power and water systems reduce the consumption of resources. "Universal Data Hall Design is crucial to innovation. As technology evolves, our data centers are able to evolve with it," said Joe Minarik, COO of DataBank. "While most of the industry is trying to navigate the here and now, we're already building the data centers of the future." About DataBank DataBank helps the world's largest enterprises, technology, and content providers ensure their data and applications are always on, always secure, always compliant, and ready to scale to meet the needs of the artificial intelligence era. Our edge colocation and infrastructure footprint consists of 65+ "HPC-ready" data centers in 27+ markets, 20 interconnection hubs, and on-ramps to an ecosystem of cloud providers with virtually unlimited reach. We combine these platforms with contract portability, managed security, compliance enablement, hands-on support, and a guarantee of 100% uptime availability, to give our customers absolute confidence in their IT infrastructure and the power to create a boundless digital future for their business.

Windows Systems and Network, Data Storage

Pure Storage Opens New Global Headquarters in Santa Clara

prnewswire | June 28, 2023

Pure Storage®, the IT pioneer that delivers the world's most advanced data storage technology and services, today announced the opening of its new global corporate headquarters in Santa Clara, California to provide state-of-the-art support to employees and customers as the company's industry-leading innovations continue to drive strong growth. Industry Significance In the last year, Pure Storage's customer base has surpassed 11,500 customers, with annual revenue reaching a milestone of $2.8 billion USD. The new space, designed with sustainability top of mind, will serve customers and employees, while accommodating headcount growth as the company continues its strong growth trajectory and invests in talent. News Highlights Designing a new corporate home that is uniquely Pure Storage, the headquarters in the Santa Clara includes: Workspace purpose-built for Pure Storage's engineer-centric and team-oriented mindset, with a next-gen lab and training center. A new executive briefing center to host customers and partners. A LEED Gold certified building, Pure Storage's new headquarters has sustainability woven throughout its design, functionality, and daily use. It features EV charging stations, solar panels, waste-reducing conservation efforts, and starting next year, will rely entirely on renewable energy. In honor of the move and to acknowledge the community, Pure Storage's corporate foundation, Pure Good, has made a grant to Second Harvest of Silicon Valley and will be supporting the organization with company-led volunteerism throughout the month. Executive Insight "Next year, Pure Storage will turn 15, and we've grown as fast or faster than any other enterprise technology company, ever. The opening of our new global headquarters – our new home – marks another important milestone on our innovation journey and mission to satisfy the entirety of our customers' storage needs." – John "Coz" Colgrove, Co-Founder and Chief Visionary Officer, Pure Storage About Pure Storage Pure Storage (NYSE: PSTG) uncomplicates data storage, forever. Pure delivers a cloud experience that empowers every organization to get the most from their data while reducing the complexity and expense of managing the infrastructure behind it. Pure's commitment to providing true storage as-a-service gives customers the agility to meet changing data needs at speed and scale, whether they are deploying traditional workloads, modern applications, containers, or more. Pure believes it can make a significant impact in reducing data center emissions worldwide through its environmental sustainability efforts, including designing products and solutions that enable customers to reduce their carbon and energy footprint. And with the highest Net Promoter Score in the industry, Pure's ever-expanding list of customers are among the happiest in the world.

Hyper-Converged Infrastructure, Data Storage

TrueNet Communications to Transform Network and Infrastructure Management with Digital Twin Technology

PR Newswire | September 01, 2023

TrueNet Communications Corp., an industry leading outside plant engineering and professional services company supporting the telecommunications market, announces the introduction of Digital Twin Technology to augment its service offerings. This groundbreaking mobile mapping solution marks a significant milestone in TrueNet Communications' commitment to delivering innovative and holistic solutions to meet current and future needs. It also represents TrueNet's expansion of services into industries including energy delivery networks, and urban, transportation and utility infrastructures. With Digital Twin Technology, TrueNet can visualize and analyze field assets in ways that were previously impossible, while simultaneously ensuring data is captured in usable outputs for future needs like predictive modeling and analysis. It's powered by state-of-the-art LiDAR and specialty photogrammetry drones that collect data and generate 3D digital replicas, or "digital twins," of field assets and environments. From optimizing network performance to enhancing infrastructure management, TrueNet's Digital Twin Technology is poised to revolutionize how companies operate. "Innovation is intrinsic to who we are and how we operate at TrueNet. We're proud to be on the forefront of finding ways to leverage new technologies, like Digital Twin Technology, to support our customers with advanced, end-to-end solutions," says Erich Schlegel, TrueNet's Chief Executive Officer. "Our customers can expect to feel the benefits of our Digital Twin approach by having access to more robust and accurate data that will enhance their overall experience." About TrueNet Communications Corp. TrueNet Communications Corp. is an industry leading outside plant (OSP) engineering, construction, and professional services company serving the largest telecommunications service providers and multi-service operators (MSOs) in North America. Since 1985, the company has provided advanced outside plant solutions by utilizing the latest innovative, exclusive, automation tools across the United States and Canada. In 2016, TrueNet was acquired by Fujitsu, one of the world's largest IT and Network services companies, adding world-class expertise and resources as a total network solution provider.