#United States #SAS #CONX Corp #Red Technologies #Littleton

CONX Corp Acquires Red Technologies SAS

Recently, CONX Corp. (OTC: CNXX) announced a significant milestone in its growth strategy by acquiring a controlling interest in Red Technologies SAS. This move is seen as a pivotal step towards strengthening CONX's foothold in the rapidly evolving spectrum-sharing market. The acquisition was executed through CONX's wholly-owned subsidiary, RED Tech US, LLC, for a total cash price of approximately EUR 18.6 million.

The transaction allows CONX to gain approximately 68% ownership of Red Technologies' outstanding shares which positions the company favorably to address the needs of the Citizens Broadband Radio Service (CBRS) market. Notably, the remaining shares will be acquired in future installments contingent upon achieving specific operational milestones.

A Collaborative Vision for the Future

The management team at Red Technologies, led by Co-Founder and CEO Pierre-Jean Muller along with Co-Founder and COO Michael Abitbol, will remain in control of the company's operations. Their primary goal is to establish Red Technologies as a credible alternative within the competitive CBRS market, which is dominated by a limited number of key players. Muller expressed optimism about the acquisition, stating that it empowers both companies to enhance the ecosystem and introduce innovative solutions that stakeholders can rely on.

The partnership is envisaged to support CONX's mission to become a leading force in the spectrum allocation domain while also aligning with the Federal Communications Commission's vision to improve broadband access, particularly in rural areas. This acquisition has opened the door for the introduction of advanced features like General Authorized Access (GAA) coexistence, a sophisticated network planning tool, and artificial intelligence-driven analytics for CBRS, thus demonstrating CONX’s commitment to innovation and growth.

Strengthening Expertise Through Leadership

As part of the acquisition announcement, CONX appointed Marc Rouanne to the board of Red Technologies. Rouanne is well-respected in the industry, having co-founded Edgescale AI and formerly serving as DISH Wireless’ Chief Network Officer. His extensive background, including leadership roles at major telecommunication firms like Nokia and Alcatel-Lucent, is anticipated to provide invaluable insights as Red Technologies aims to expand its operations both in the U.S. and internationally.

Rouanne's experience influencing the design of DISH's 5G network exemplifies the kind of strategic leadership that can guide Red Technologies in evolving its services in line with market demands.

About CONX and Red Technologies

CONX Corp. is a diversified operating entity focused on driving innovation in communication and connectivity. Its aim is to work alongside emerging companies that demonstrate potential for rapid growth and market impact through their distinctive business models.

Red Technologies was established in 2012 and is based in Paris, France. The firm specializes in spectrum-sharing solutions and services, particularly for CBRS and TV white space technologies. With its scalable cloud-based solutions, Red Technologies is poised to democratize access to 5G and modernize infrastructure, supporting both U.S. and European markets. The company’s team comprises seasoned engineers with prior experience in some of the top telecom vendors, contributing to its strong operational and technical capabilities.

With this acquisition, both CONX and Red Technologies are set to redefine the landscape of shared spectrum technologies, promising elevated service offerings and an expanded presence in the connectivity market.