Comtech Telecommunications Corp. Completes Review of Strategic Alternatives
Melville, NY, 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.”
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.
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