Nova Labs Acquires FreedomFi, Accelerating Mobile Services
The FreedomFi team will join Nova Labs to lead the network expansion as part of the acquisition.
Nova Labs, the company behind the Helium blockchain, has announced that it has acquired FreedomFi, a company that builds software for 5G networks, completing a goal in its plan to expand Helium into mobile communications.
However, Nova CEO Amir Haleem declined to disclose the value and terms of the deal. He said:
“We had a desire to have more expertise in-house from FreedomFi and to be closer to accelerating what we are doing in 5G cellular.”
FreedomFi co-founder and CEO Boris Renski is also excited and expects the merger with Nova to open the door to innovation that has a lasting impact on the telecom industry.
Under the acquisition agreement, FreedomFi’s staff will continue to join and contribute to Nova Labs. FreedomFi raised $9.5 million from Qualcomm and Samsung Electronics in March.
Helium is considered a revolutionary blockchain platform with a position to improve the way society operates. The project is building a peer-to-peer decentralized 5G wireless network that provides bandwidth and collects data from low-power IoT (Internet of Things) devices, facilitating their communication and transmission of data through the system of nodes in a secure and cost-effective manner.
FreedomFi is no stranger to the Helium ecosystem. In 2021, it is the first company to introduce and approve Helium 5G. Since then, FreedomFi has launched the world’s first Helium-compatible mobile station, allowing anyone without any knowledge of 5G technology to set up their own mobile network from home and start mining HNT tokens.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Harold
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Nova Labs Acquires FreedomFi, Accelerating Mobile Services
The FreedomFi team will join Nova Labs to lead the network expansion as part of the acquisition.
Nova Labs, the company behind the Helium blockchain, has announced that it has acquired FreedomFi, a company that builds software for 5G networks, completing a goal in its plan to expand Helium into mobile communications.
However, Nova CEO Amir Haleem declined to disclose the value and terms of the deal. He said:
“We had a desire to have more expertise in-house from FreedomFi and to be closer to accelerating what we are doing in 5G cellular.”
FreedomFi co-founder and CEO Boris Renski is also excited and expects the merger with Nova to open the door to innovation that has a lasting impact on the telecom industry.
Under the acquisition agreement, FreedomFi’s staff will continue to join and contribute to Nova Labs. FreedomFi raised $9.5 million from Qualcomm and Samsung Electronics in March.
Helium is considered a revolutionary blockchain platform with a position to improve the way society operates. The project is building a peer-to-peer decentralized 5G wireless network that provides bandwidth and collects data from low-power IoT (Internet of Things) devices, facilitating their communication and transmission of data through the system of nodes in a secure and cost-effective manner.
FreedomFi is no stranger to the Helium ecosystem. In 2021, it is the first company to introduce and approve Helium 5G. Since then, FreedomFi has launched the world’s first Helium-compatible mobile station, allowing anyone without any knowledge of 5G technology to set up their own mobile network from home and start mining HNT tokens.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Harold
CoinCu News
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