Image: NextNav
NextNav has entered an agreement to acquire additional spectrum licenses in the lower 900 MHz band (902 MHz to 928 MHz) from Telesaurus Holdings and Skybridge Spectrum Foundation. This acquisition, valued at up to $ 50 million, significantly expands NextNav’s spectrum portfolio by an additional 4 MHz.
With the completion of this transaction, NextNav’s total spectrum assets will surge to 3.5 billion MHz-PoPs, which marks a significant leap in the company’s capacity to offer reliable and precise positioning and timing solutions.
The transaction involves an initial cash payment of $ 2.5 million due within 30 days following the court’s authorization to proceed. The balance will be settled in NextNav common stock, contingent upon reaching specific milestones, the final transfer of licenses and obtaining necessary regulatory approvals. The successful closure of this deal is subject to Court and regulatory clearances, including approval from the Federal Communications Commission (FCC).
NextNav aims to deliver PNT solutions that use 3D geolocation and PNT technology, facilitated by its ownership of low-band licensed spectrum. The company’s technologies are designed to ensure accurate, reliable and resilient 3D PNT solutions across a broad spectrum of applications, ranging from critical infrastructure and GPS resiliency to various commercial use cases.
The post NextNav enhances positioning and timing capabilities first appeared on GPS World.
