Comtech Telecommunications Corp. Completes Review of Strategic Alternatives
MELVILLE, N.Y.--(BUSINESS WIRE)--
December 9, 2014-- Comtech Telecommunications Corp. (Nasdaq:CMTL)
announced that its Board of Directors has completed a review of
strategic alternatives today with the assistance of its financial
advisor, Citibank, its legal counsel, Proskauer Rose, and its special
counsel, Morris, Nichols, Arsht & Tunnell. After considering various
strategic alternatives to enhance shareholder value, including a
possible merger or sale of the Company, the Board has determined that
the interests of the Company and its shareholders will be best served by
the Company remaining independent.
Comtech Chairman and Chief Executive Officer, Fred Kornberg, stated: "At
the end of a thorough and rigorous process, our Board concluded that the
Company is best positioned to maximize shareholder value by continuing
to execute on its strategies of enhancing its leadership positions in
the markets we serve, participating in emerging technologies that
enhance or expand our product portfolio, carefully pursuing acquisitions
of businesses and technologies, and returning cash to our shareholders."
About Comtech Telecommunications Corp:
Comtech Telecommunications Corp. designs, develops, produces and markets
innovative products, systems and services for advanced communications
solutions. The Company believes many of its solutions play a vital role
in providing or enhancing communication capabilities when terrestrial
communications infrastructure is unavailable, inefficient or too
expensive. The Company conducts business through three complementary
segments: telecommunications transmission, RF microwave amplifiers and
mobile data communications. The Company sells products to a diverse
customer base in the global commercial and government communications
markets. The Company believes it is a leader in most of the market
segments that it serves.
Forward Looking Statements:
The statements herein that are not historical facts are forward-looking
statements that involve substantial risks and uncertainties, including,
without limitation, our ability to enhance shareholder value as a
standalone business entity.
PCMTL
Media: Michael D. Porcelain, Senior Vice President and Chief
Financial Officer (631) 962-7103 info@comtechtel.com