Comtech Telecommunications Corp. Confirms It Is Exploring Strategic Alternatives
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 law.
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.