Hanwha Systems $30M Investment into Kymeta Corp. Approved by CFIUS
Kymeta Corporation (www.kymetacorp.com)—the communications company making mobile global—announced today that the Committee on Foreign Investment in the United States (CFIUS) has approved a $30 million investment by Hanwha Systems Co., Ltd. (HSC) (www.hanwha.com), a leading global solutions company that provides differentiated smart technologies in defense electronics and information infrastructure, in Kymeta.
The approval provided by CFIUS clears the way for HSC and Kymeta to close on the transaction that was jointly announced last December. The investment moves Kymeta one step closer toward developing solutions that are future proof and interoperable with both LEO and GEO mega constellations. Today, the Kymeta™ u8 is the only commercially available flat panel antenna that is compatible with LEO and GEO satellite constellations and enabled to take advantage of the growing capacity within space.
“We are thrilled that the investment is approved and eager to leverage Kymeta’s expertise in hybrid satellite and cellular connectivity solutions,” said Youn Chul Kim, CEO of HSC. “Kymeta’s solutions will further our aerospace capabilities and deliver reliable communications for our defense customers.”
“We look forward to moving ahead and working with HSC,” said Doug Hutcheson, Executive Chairman, Kymeta. “We believe this investment will be instrumental in enabling the continued innovation, advancement and commercialization of Kymeta’s connectivity solutions. We’re excited about the future of Kymeta and the LEO satellite market.”
The investment from HSC will further Kymeta’s global market reach, accelerate production, and improve the overall growth trajectory of the company. The funding will support increased unit production, enhanced customer experience, and the ongoing development of Kymeta’s next generation capabilities. With the capital investment HSC will also receive a seat on the Kymeta Board of Directors.
HSC plans to support Kymeta’s metamaterial-based antenna technology and gain a foothold in the rapidly growing Low Earth Orbit (LEO) antenna market.
About Kymeta
Kymeta is unlocking the potential of broadband satellite connectivity, combined with cellular networks, to satisfy the overwhelming demand for comms on the move and making mobile global. Lepton Global Solutions, a Kymeta company, hosts the company’s satellite connectivity solutions and offers unique, complete, and turnkey bundled solutions to the market based on best-in-class technologies and tailored customer-centric services that meet and exceed customer mission requirements. These solutions in tandem with the company’s flat-panel satellite antenna, the first of its kind, and Kymeta Connect™ services provide revolutionary mobile connectivity on satellite and hybrid satellite-cellular networks to customers around the world. Backed by U.S. and international patents and licenses, the Kymeta terminal addresses the need for lightweight, slim, and high-throughput communication systems that do not require mechanical components to steer toward a satellite. Kymeta makes connecting easy – for any vehicle, vessel, or fixed platform.
Kymeta is a privately held company based in Redmond, Washington.
For more information, visit kymetacorp.com.
About Hanwha Systems
HSC is a leading global solutions company providing differentiated smart technologies in defense electronics and information infrastructure. Since its founding in 1978, the Hanwha Systems has significantly advanced the defense capabilities of South Korea’s military. The company has spent more than 40 years developing systems used globally, which are used to develop advanced systems for surveillance, reconnaissance, control, communication, computer, and intelligence (C4I), naval and land.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210526005324/en/
Contact information
Business Inquiries for Kymeta:
Brenda Kuhns
Director of Marketing
Kymeta Corporation
bkuhns@kymetacorp.com
Media Inquiries for Kymeta:
Amanda Barry
Director of PR & Content
The Summit Group
abarry@summitslc.com
About Business Wire
Business WireSubscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Bureau Veritas: Strong Start to the Year; 2024 Outlook Confirmed25.4.2024 09:20:00 CEST | Press release
Q1 2024 Key figures1 › Revenue of EUR 1,439.5 million in the first quarter of 2024, up 2.5% year-on-year and up 8.0% organically › Strong organic growth from Industry +16.3%, Certification +13.7%, Marine & Offshore +13.6%, compared to the first quarter of 2023; growth of +6.1% for Consumer Products Services, +3.6% for Buildings & Infrastructure and +3.2% for Agri-food & Commodities › The scope effect was a positive 0.1%, reflecting bolt-on acquisitions offset by a small disposal › The currency impact was negative by 5.6% mainly due to the depreciation of some emerging countries’ currencies against the euro Q1 2024 Highlights › New strategy LEAP | 28, announced on March 20, 2024, to deliver a step change in growth and performance, built around three pillars: Focused Portfolio, Performance-led execution and Evolved People model › Strong growth in every region (Americas, Middle East, Africa, Asia-Pacific and Europe), outperforming many underlying markets › Growth momentum maintained for s
New CPS Protection Platform: TXOne Networks Presents SageOne in Hannover25.4.2024 09:04:00 CEST | Press release
TXOne Networks, a leading company in the field of cyber-physical systems (CPS) security, will be presenting its new CPS security platform during the Hannover Messe from 22nd to 26th April 2024 at stand B06 in hall 16: SageOne, which means Wise Man Number One. This central management console provides an overview of the CPS attack surface of the OT environment. All three TXOne product lines can be centrally controlled, namely Stellar for endpoint protection, Element for security inspection and Edge for network defense. The platform offers integrated OT security across the entire lifecycle of the objects to be protected and enables reliable detection and response to threats. SageOne essentially covers three main pillars: CPS Attack Surface Management: Visibility is a cornerstone for cybersecurity. A clear view of the overall security posture helps identify security focal points in an OT environment. SageOne focuses on operational security by honing in on assets and illuminating the securi
Infobip becomes an Oracle Independent Software Vendor partner25.4.2024 09:00:00 CEST | Press release
Infobip, a global cloud communications platform and a member of Oracle PartnerNetwork (OPN), today announced it has enhanced its relationship with Oracle, becoming an Independent Software Vendor (ISV) with access to Oracle Integration Cloud. Businesses using any Oracle solution can access Infobip’s omnichannel platform through Oracle Cloud Marketplace (OCM). They can quickly orchestrate powerful interactions, help increase customer satisfaction, boost sales, and improve campaign performance. Oracle Cloud Marketplace is a one-stop shop for Oracle customers seeking trusted business applications and services offering unique solutions, including ones that extend Oracle Fusion Cloud Applications. Infobip’s communication channels will enable businesses to deliver conversational experiences across many sectors including banking and financial services, retail and ecommerce, and hospitality and leisure. Through Infobip’s collaboration, Oracle users will gain customer insights, enabling them to
Global CIOs geared up to scale AI but organizations aren’t as ready25.4.2024 05:00:00 CEST | Press release
AI is the CIO’s top priority, according to findings of Lenovo’s third annual global CIO report. Inside the Tornado: How AI is Reshaping Corporate IT Today, reveals that while CIOs need to adopt and scale AI urgently, their ambitions are threatened by speed, security, and other organizational functions lagging in AI readiness. In a stark contrast to previous years, CIOs are tabling non-traditional responsibilities to sharpen their focus on core IT functions. Slightly more than half (51%) of CIOs feel AI/ML is an urgent priority to address, matched only by cybersecurity. This urgency is directly correlated to the pressure that CIOs are under to drive business impact, rather than operational maintenance and preservation. 84% of CIOs revealed they are being evaluated on business outcome metrics more than ever before. “Today’s CIOs are working in a tornado of innovation. After years of IT expanding into non-traditional responsibilities, we’re now seeing how AI is forcing CIOs back to their
Mundipharma acquires all assets and rights related to REZZAYO ® (rezafungin) , reinforcing continued commitment to management of infectious diseases and specialty care therapeutic area24.4.2024 22:01:00 CEST | Press release
Mundipharma* today announced the acquisition of all assets and rights related to rezafungin globally from Cidara Therapeutics. This provides Mundipharma with global ownership of rezafungin including ongoing development and distribution. Rezafunginis a novel once-weekly echinocandin indicated for the treatment of invasive candidiasis in adults.1 Invasive candidiasis, is a severe, life-threatening infection of the bloodstream and/or deep/visceral tissues.2,3 It affects seriously ill people, especially those with a weakened immune systemand the mortality rate can be 40%4 or more.5,6 It can place a large burden on the healthcare system, with the potential for extended treatment regimens and long hospital stays.6 Over the last 15 years, there have been no new treatments and morbidity and mortality rates remain largely the same, indicating the need for alternative treatment options.7,8 “This acquisition places Mundipharma in the best position to realise the full potential of rezafungin inclu
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom