CONX Corporation has acquired a controlling stake in MobileX, a wireless carrier based in Orange County, California, the companies announced Monday.
Financial terms of the transaction were not disclosed. CONX, which trades under the OTC ticker CNXX, is described as a diversified operating entity with partnerships across communications and connectivity sectors. The deal brings Charlie Ergen, founder and chairman of EchoStar, into MobileX’s board as chairman alongside Jason Kiser, CONX’s chief executive. Peter Adderton, MobileX’s founder and CEO, will also remain on the board.
MobileX operates an AI-driven platform that tailors mobile plans to individual usage patterns. The carrier offers customizable plans starting at $3.88 per month, excluding taxes and government surcharges, and distributes services through iOS and Android apps, online channels, approximately 3,700 Walmart stores, and roughly 5,000 independent dealer locations nationwide.
CONX intends to use the investment to expand customer acquisition, strengthen its dealer and retail footprint, and further develop MobileX’s AI platform. The company also plans to explore opportunities in global connectivity and AI-enabled wireless services, positioning the deal as a strategic move to scale MobileX’s operations.
Adderton said in a statement, "CONX shares this vision, and their investment gives us the capital and resources to build on our progress and compete at a much greater scale."
