Comtech Telecommunications is a global technology company focused on providing satellite and space communication technologies. They design, develop, produce, and market communication solutions, including high-reliability electronic components, satellite modems, and antenna systems. Comtech serves commercial and government customers, including NASA, ESA, the U.S. Department of Defense, and various players in the aerospace industry. Their technologies support satellite communication, ground station infrastructure, and mission-critical applications.
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Gilat Satellite Networks Ltd. reported GAAP operating income of $62,700,000 for 2020-10-01, which included a one-time net income of $64,800,000 related to a settlement with Comtech.
Gilat Satellite Networks Ltd. reported GAAP net income of $62.4 million, or $1.12 per diluted share, for 2020-10-01, with that result including the Comtech settlement net income.
Excluding the Comtech settlement item, Gilat Satellite Networks Ltd. would have had an operating loss of $2,100,000 in 2020-10-01.
Comtech rejected a $790,000,000 takeover offer less than a week before 2022-01-31 as part of a decision to double down on its growth strategy.
Comtech offers Comtech ELEVATE alongside its HEIGHTS and UHP satellite networking platforms to provide a full range of satellite networking products.
Comtech ELEVATE is a software-defined, modular VSAT platform designed to support both small and large networks across GEO, MEO, and LEO satellite orbits.
Comtech’s board of directors unanimously rejected a takeover approach from Acacia Research Corp. on 2022-01-25.
Comtech announced two satellite-focused business lines on 2022-01-27 as part of its growth plan.
Comtech Telecommunications unveiled a software-defined VSAT platform on 2022-01-31 to expand in the ground station market.
Comtech ELEVATE can scale to support more than 500,000 remote sites.
Vagan Shakhgildian was CEO of Canada-based VSAT network equipment maker UHP Networks before joining Comtech last year, and Comtech acquired UHP Networks in 2021-03-01.
Acacia Research Corp. submitted an offer in October to buy Comtech for $30 per share.
Comtech’s shares were trading at around $20.22 on the Nasdaq exchange as the article was published, after closing at $19.73 on 2022-01-28.
Daniel Gizinski, who joined Comtech in 2019 and held roles including vice president of product and strategy for Comtech Systems, is now president of Comtech’s U.S.-based satellite-focused business line.
Dr. Vagan Shakhgildian joined Comtech in March 2021 as part of the acquisition of Canada-based UHP Networks.
The two new Comtech business units are intended to formalize and improve Comtech’s ability to serve U.S. and allied governments as a defense contractor.
Daniel Gizinski will lead a team focused on providing integrated, satellite-based solutions for government and commercial customers relying on technologies developed and manufactured in Comtech’s U.S. facilities.
Dr. Vagan Shakhgildian will lead a team focused on streamlining, accelerating, and capturing commercial networking opportunities for VSAT platforms and building out an innovation center for Comtech’s commercial satellite Earth station communications technologies.
Comtech reported net sales for fiscal 2021 of $582 million, down 6% from $617,000,000 the year before.
Activist investor Outerbridge Capital Management owned just under 5% of Comtech when it sent a letter expressing a lack of faith in the company’s management on 2021-10-06.