MobileX announced a strategic investment from CONX Corporation (OTC: CNXX), giving CONX a controlling interest and providing new capital to support MobileX’s next growth phase. EchoStar founder and CONX chairman Charlie Ergen and CONX CEO Jason Kiser will join the MobileX board.
According to MobileX, the funds will be used to expand its AI-powered wireless platform, accelerate customer acquisition, grow its independent dealer and retail footprint, and explore global connectivity and AI-enabled services. MobileX offers customizable wireless plans starting at $3.88 per month, available via its apps, website, Amazon, Walmart.com, over 3,700 Walmart stores, and 5,000 independent dealer locations. Financial terms were not disclosed.
CONX Corp (OTC: CNXX) has announced the acquisition of a controlling interest (68%) in Red Technologies SAS through its subsidiary, RED Tech US, , for a maximum purchase price of approximately EUR 18.6 million in cash. The remaining shares will be acquired based on milestone achievements.
RED Technologies' executive team, including Co-Founders Pierre-Jean Muller (CEO) and Michael Abitbol (COO), will continue managing operations, focusing on establishing the company as an alternative in the CBRS market. Marc Rouanne, Co-Founder and CTO of Edgescale AI, has been appointed to RED Technologies' board.
The acquisition aims to strengthen RED Technologies' position in spectrum allocation technology and enhance the CBRS ecosystem through development of features like GAA coexistence, Network Planner, and AI-based CBRS analytics.