Comtech Telecommunications, a major supplier of equipment to telcos and the space industry, is building a new factory in Arizona to build modems and targeting the newly-emerging low Earth orbiting sector for new business. Comtech already supplier high-end equipment for the likes of SES which uses the kit on its O3b/mPOWER satellites being built by […]
Comtech Telecommunications designs, develops and produces systems and services for advanced communications solutions. But trading is currently a challenge, says a report from analysts Quilty. “For the second consecutive quarter, Comtech slashed its forward guidance (EBITDA down 24 per cent), citing a combination of near-term supply-side constraints and timing issues, including the delay of two […]
Israel-based specialist satellite communications company Gilat, which had hoped to see itself merged by now with Comtech Telecommunications, has reported its Q3 numbers saying its revenue was negatively impacted by the ongoing pandemic, and even more so by the litigation with Comtech. Comtech has agreed to pay Gilat $70 million for terminating its merger commitment. […]
Comtech Telecommunications and Gilat Satellite Networks have agreed to terminate the merger agreement first announced on January 29th 2020 and have settled all pending litigation in the Delaware Court of Chancery. In connection with the termination and settlement agreement, Comtech has agreed to make a payment of $70 million to Gilat. The merger termination and […]
Israel-based Gilat Satellite Networks has reported Q2 revenues of $38.3 million – down 36 per cent on the same period last year. The company also confirmed that the purchase of Gilat by Comtech Telecommunications remains at considerable risk. Gilat and Comtech are involved in litigation against each other. The purchase was originally priced at $50 […]
Comtech’s plan to buy Israel-based Gilat Satellite Networks for $532 million (€470m) has hit a snag. The deal (70 per cent in cash and 30 per cent in Comtech Telecommunications common stock) was first announced by the pair in January. The obstacle is fairly fundamental and sees Comtech filing a formal complaint against Gilat (in […]