COMSovereign has agreed to acquire video and physical security technology manufacturer RVision for an undisclosed sum to expand technology portfolio for smart city projects and customer base in the public and private sectors.
COMSovereign said Wednesday the agreement includes $5.58 million in total considerations including restricted common stock shares and is scheduled to close within 15 days if all closing conditions have been met.
Brian Kelly, CEO of RVision, will retain his leadership role while also serving as executive vice president of business development at COMSovereign.
RVision offers infrared cameras and optical systems designed to operate in rugged environments. Its portfolio also includes nanodiffractive optics technology integrated with artificial intelligence-based electro-optical sensors and communication systems that support elements of smart city networks.
Additionally, the San Diego-based company markets hardened processors, software, tactical video platforms and associated communication systems.
Dustin McIntire, chief technology officer of COMSovereign, said he expects the acquisition to also support the company’s aerial platform and 5G-based smart city development services.