Comtech Telecommunications Corp. Confirms It Is Exploring Strategic Alternatives
August 25, 2014 at 5:21 PM EDT
MELVILLE, N.Y.--(BUSINESS WIRE)--
August 25, 2014--Comtech Telecommunications Corp. (Nasdaq:CMTL) today
confirmed, in response to media reports, that it is exploring strategic
alternatives to enhance shareholder value, including a possible merger
or sale of the Company.
The Company regularly considers a broad range of strategic alternatives
with the goal of maximizing shareholder value. There can be no assurance
that any transaction or other strategic change will occur as a result of
the current exploration of alternatives.
The Company has not set a definitive timetable for completion of its
evaluation and it does not intend to discuss or disclose further
information regarding the status of its evaluation unless required by
The Company has retained Citi as its financial advisor and Proskauer
Rose LLP as its legal advisor in connection with the foregoing.
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 market leader in 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 enter into or consummate a
transaction as a result of any evaluation of strategic alternatives
described above or our ability to enhance shareholder value through this
process or any potential transaction or other strategic change.
Media: Michael D. Porcelain, Senior Vice President and Chief
Financial Officer (631) 962-7103 firstname.lastname@example.org