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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Comtech Telecommunications disclosed debt covenant amendments and balance sheet restructuring steps in recent SEC filings.
Comtech Telecommunications supplies satellite ground segment equipment, modems, and troposcatter systems.
L3Harris Technologies, Honeywell International, Comtech Telecommunications, and Teledyne Technologies supply RF amplifiers, waveguide assemblies, ground terminals, and modem electronics used inside most military and commercial satellite communication payloads.
Gilat Satellite Networks signed a definitive agreement to acquire a majority stake in Comtech Telecommunications Corporation’s Satellite & Space Communications division.
Comtech’s Satellite & Space Communications division provides Troposcatter Beyond Line of Sight communication systems.
Ken Traub is the president and CEO of Comtech Telecommunications Corporation.
The closing of Gilat Satellite Networks’ acquisition of Comtech’s Satellite & Space Communications division is expected by the end of 2026.
The boards of Gilat Satellite Networks and Comtech Telecommunications Corporation approved the acquisition unanimously.
Comtech’s Satellite & Space Communications division provides ground infrastructure for GEO, MEO, and LEO satellite constellations.
Customers of Comtech’s Satellite & Space Communications division include the U.S. Department of Defense, allied defense agencies, satellite operators, and energy companies operating in complex environments.
Comtech’s Satellite & Space Communications division provides engineering and support services for satellites, launch vehicles, and crewed space applications.
The Gilat acquisition of Comtech’s Satellite & Space Communications division is structured as a cash-free and debt-free transaction with a $157.5 million cash payment, subject to customary working-capital adjustments.
The Gilat acquisition of Comtech’s Satellite & Space Communications division requires approvals from CFIUS, the FTC, and the U.S. Department of Justice under the Hart-Scott-Rodino Act.
Ken Traub said that Gilat will be the ideal home for Comtech’s Satellite & Space division after the transaction.
Comtech expects the sale of its Satellite & Space Communications segment to generate net cash proceeds of roughly $143 million to $145 million after transaction expenses.
Comtech had agreed six years earlier to be acquired by Gilat for $577 million before that deal collapsed during the onset of the COVID-19 pandemic.
The Gilat-Comtech transaction is valued at $157.5 million cash-free and debt-free.
The boards of directors of Gilat and Comtech unanimously approved the transaction.
Gilat Satellite Networks will acquire the majority of Comtech Telecommunications’ Satellite & Space Communications segment.
More than 70 percent of Comtech’s active customer base includes the U.S. Department of Defense, allied defense agencies, and commercial space companies.