Connectivity systems provider ComSovereign agreed yesterday to purchase US-based mobile infrastructure technology developer Fastback Networks in a $14m deal enabling networking technology producer Juniper Networks to exit.
The transaction will consist of cash as well as debentures such as securities that can be exchanged for ComSovereign shares.
Founded in 2010, Fastback builds radio transmission systems that enable telecommunications networks to offer wireless connectivity for high-speed applications such as 5G while retaining signal strength in areas with poor reception.
The company’s products include antenna arrays, spectrum sharing technologies and signal processing devices. It secured $15m in a 2015 series C round led by Harmony Partners that included Juniper Networks, Foundation Capital, Granite Ventures and Matrix Partners.
Juniper Networks’ Junos Innovation Fund had backed a $15m series B round for Fastback in 2013 that was led by Matrix Partners and backed by Foundation Capital and Granite Ventures, both of which had joined Junos Innovation Fund in an $11m series A two years earlier.