Tech
December 5, 2023
Karista, a pioneering private equity firm supporting DeepTech companies, announces the sale of Red Technologies to Conx Corp. a NASDAQ-listed US SPAC, for €18.6m. This transaction represents a significant valuation for a French DeepTech company. It also illustrates Karista's ability to identify and support strategic innovations in their development, from the idea to its implementation and valorization.
From technological challenge to strategic success
Convinced by the potential of its radio spectrum management and sharing technology (SAS - Spectrum Access Sharing), Karista made its first investment in Red Technologies in 2015 and became the majority shareholder. With a strong patent portfolio and certifications from the Federal Communications Commission (FCC) across the Atlantic, Red Technologies has over time set itself apart through its innovation on a dual-use technology that can also be used for military applications.
With its beginnings marked by commercial challenges and strong competition, Red Technologies has been supported by Karista in the development and certification of its solution, making it indispensable to American networks today.
A global strategic success for all concerned
The sale of Red Technologies to CONX Corp. marks a successful exit for Karista, the only professional investor in the company's capital. The deal generates a significant return, consolidating Karista's position as a strategic partner for high-potential European DeepTech companies.
By joining CONX Corp, Red Technologies joins a major telecommunications player, ready to leverage its unique expertise. The Red Technologies team will continue to operate from France, ensuring the continuity of its technological know-how. The co-founders of RED Technologies, Pierre-Jean Muller (CEO) and Michael Abitbol (COO), will remain at the head of the company to continue to develop the business, particularly in the Citizens Broadband Radio Service (CBRS) market.
“The sale of Red Technologies to CONX Corp. fully illustrates our mission at Karista: to support European DeepTech companies at every stage of their development, from the first steps to a successful strategic exit. It's been a real adventure working with Red Technologies, a pioneer in spectrum sharing technologies and services, over the past few years. This success confirms the relevance of our approach and our ability to accompany innovations that are transforming their market while generating significant value for our investors” concludes Olivier Dubuisson, Managing Partner of Karista.
About Red Technologies
Founded in 2012 and based in Paris, France, Red Technologies SAS (“Red Technologies”) specializes in spectrum sharing technologies and services. The company offers scalable cloud-based solutions for Citizens Broadband Radio Service (CBRS) and Television White Space (TVWS), meeting the needs of operators in various sectors. It also provides operated 5G connectivity solutions, democratizing access to this technology for businesses wishing to modernize their communications infrastructure, in both American and European markets. A pioneer in spectrum sharing technologies, Red Technologies has actively contributed to the development of CBRS regulations and standards. The RED Technologies team is made up of leading engineers from top telecom providers and operators.
About Karista
Founded in 2001, Karista is a European venture capital firm supporting entrepreneurs in the creation of innovative technological solutions. Through its funds dedicated to the Healthcare, Digital Health, Digital and SpaceTech sectors, Karista has invested in over 100 companies and supports their growth through to successful strategic exits.
Press contact
Anna Casal - anna.casal@karista.vc - +33 6 50 61 55 71
