MELVILLE, N.Y. –
August 3, 2020– Comtech Telecommunications Corp. (“Comtech”) (Nasdaq: CMTL) reported that its pending acquisition of UHP Networks Inc. (“UHP”) continues to progress through the regulatory approval process.
As previously announced, Comtech has entered into an agreement to acquire UHP, a provider of innovative and disruptive satellite ground station technology, for an aggregate purchase price of $38.0 million, of which $5.0 million will be paid in cash, and the remainder in shares of Comtech common stock, cash or a combination of both, as Comtech may elect at the time of closing. The transaction is subject to customary closing conditions, including regulatory approval to allow Comtech to purchase UHP’s sister company which is headquartered in Moscow.
Today, Comtech announces that on July 29, 2020, the Federal Antimonopoly Service (“FAS”) of the Russian Federation advised Comtech that its application for regulatory approval has been referred to the Commission for Supervising Foreign Investments in the Russian Federation (the “Commission”) for review under Russia’s Foreign Investment Law. As such, Comtech plans to submit its application for regulatory approval to the Commission as soon as possible.
Acerca de Comtech
Comtech Telecommunications Corp. diseña, desarrolla, fabrica y comercializa productos, sistemas y servicios innovadores para soluciones de comunicaciones avanzadas. La empresa vende productos a una variada base de clientes en los mercados mundiales de comunicaciones comerciales y gubernamentales.
Advertencia sobre las declaraciones prospectivas
Cierta información contenida en este comunicado de prensa contiene afirmaciones que son de naturaleza prospectiva e implican ciertos riesgos e incertidumbres significativos. Los resultados reales podrían diferir sustancialmente de dicha información prospectiva. Los documentos presentados por la empresa ante la Securities and Exchange Commission identifican muchos de estos riesgos e incertidumbres. Cualquier información de carácter prospectivo contenida en este comunicado de prensa está sujeta en su totalidad a los riesgos e incertidumbres descritos en dichos documentos de la Comisión de Bolsa y Valores.
PCMTL
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Contacto para los medios de comunicación:
Michael D. Porcelana, Presidente y Director de Operaciones
(631) 962-7000
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