Comtech Telecommunications Corp. Board Unanimously Rejects Unsolicited Offer From Acacia Research Corporation

  • Proposal Grossly Undervalues Comtech and is Not in the Best Interests of Comtech’s Shareholders
  • Board Affirms Confidence in Strategy and Long-Term Outlook for the Business

MELVILLE, N.Y., January 25, 2022 (Comtech PR) — Comtech Telecommunications Corp. (NASDAQ: CMTL), a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies, announced today that the Company’s Board of Directors has unanimously rejected the unsolicited proposal to acquire Comtech received from Acacia Research Corporation (Acacia) on October 29, 2021.

(more…)

Comtech to Acquire Gilat Satellite Networks for $532.5 Million

MELVILLE, N.Y., & PETAH TIKVA, Israel (Comtech PR) — Comtech Telecommunications Corp. (Nasdaq: CMTL) (“Comtech”) and Gilat Satellite Networks Ltd. (Nasdaq: GILT; TASE: GILT) (“Gilat”) jointly announced today that Comtech has agreed to acquire Gilat in a cash and stock transaction for $10.25 per Gilat ordinary share of which 70% will be paid in cash and 30% in Comtech common stock, resulting in an enterprise value of approximately $532.5 million.

Founded in 1987 with its headquarters in Israel, Gilat is a worldwide leader in satellite networking technology, solutions and services with market leading positions in the satellite ground station and in-flight connectivity solutions markets and deep expertise in operating large network infrastructures.

(more…)