Transform-X, Inc. has completed previously announced acquisition of bankrupted DragonWave’s operations and assets, which includes DragonWave’s shares of its foreign subsidiaries, 50.1% interest in its Indian joint-venture, DragonWave HFCL India Private Limited, accounts receivable, inventory, equipment, patents, intellectual property, customer information, and assumed contracts.
Financial terms of the transaction remain undisclosed. The purchase price was comprised of cash consideration plus the assumed liabilities.
The new company will operate under DragonWave-X as a subsidiary of Transform-X. The company will expand its portfolio in the future with new radio solutions that integrate disruptive waveform, antenna and hardware technologies.
“The DragonWave-X acquisition is a crucial part of Transform-X’s strategic goal to acquire and integrate best-in-class 5G+ communications technologies, manufacturers and service companies that will compete and excel in the market for 5G+, small cell densification and RAN solutions to modern data demands,” said Dan Hodges, Transform-X CEO.
DragonWave was petitioned into bankruptcy on July 31, 2017, owing over $17.2 million to senior lenders, Comerica Bank and Export Development Canada (EDC).
Founded in 2017, Tucson, Arizona based Transform-X has acquired rights to several patented technologies which offer dramatic increases in bandwidth and efficiencies for existing wireless and wired networks.
According to its regulatory filing, Transform-X raised US $1.1 million in August 2017. Transform-X is led by Chairman & CEO Dan Hodges. Its board of directors also include John Howell and Mehrdad Nayebi.
photo credit: DragonWave