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Hanwha Systems announced on 2020-06-08 that it closed a deal to acquire Phasor Solutions’ business and assets.
Phasor Inc. of Arlington, Virginia had been trying since 2018 to raise $25,000,000 in equity to support Phasor Solutions’ antenna development.
Phasor Solutions signed a $1,100,000 loan in February with its largest investor, Grapevine Capital Limited, to provide liquidity for a potential acquisition deal.
Phasor Inc. obtained more than $9,000,000 in equity commitments while seeking $25,000,000.
Phasor plans to start developing a Ka-band version 2019.
Phasor CEO Dave Helfgott plans to seek a partner for the Ka-band version but will begin development regardless.
Phasor is developing a flat panel antenna with in-flight connectivity provider Gogo that will be ready for testing by the end of 2019.
Phasor and Gogo partnered on flat, electronically steered antennas in 2016 and reached their initial core-technology performance objectives.
STI will build Phasor’s antenna systems at its Manchester, U.K., factory.
Phasor CEO Dave Helfgott spoke at the Satellite Innovation 2018 conference in Mountain View, California on 2018-10-09.