NextNav (NASDAQ: NN), a Mclean, VA-based provider of a GPS and 3D geolocation solutions, acquired Nestwave, a Neuilly-sur-Seine, France-based provider of a low-power geolocation system.
NextNav acquired Nestwave for an enterprise value of $18.0m and gross consideration value of $19.3m, consisting of $4.3m in cash and $15.0m in NextNav’s common stock.
The combination of NextNav’s technology with Nestwave’s LTE/5G capabilities will allow NextNav to intelligently combine signals from existing terrestrial LTE/5G networks with its own highly synchronized TerraPoiNT system to deliver near nationwide resilient 3D position, navigation and timing (“PNT”) capabilities which will contribute to dramatically lower deployment costs.
Led by CEO Ambroise Popper, Nestwave provides advanced geolocation solutions to Internet of Things (“IoT”) modem and digital signal processor vendors and end IoT users.
Led by CEO Ganesh Pattabiraman, NextNav is the developer of a 3D geolocation service called Metropolitan Beacon System, a wide area location and timing technology designed to provide services in areas where GPS or other satellite location signals cannot be reliably received.
FinSMEs
07/11/2022