Comtech Telecommunications Corp. (Nasdaq: CMTL) has entered into an agreement to acquire UHP Networks Inc. (“UHP”), a provider of innovative and disruptive satellite ground station technology solutions, for a purchase price of approximately USD 40.0 million, the company said.
Founded in 2005, UHP is based in Canada and has developed revolutionary technology that is transforming the Very Small Aperture Terminal (“VSAT”) market.
The deal expands Comtech´s product line in the satellite ground station market, which has a growing need for reliable, high capacity satellite equipment, particularly in the private and high-performance enterprise VSAT market.
The purchase agreement for UHP includes the acquisition of a sister company and all of their intellectual property. All employees of UHP are expected to join and remain with the company and Vagan Shakhgildian will serve as President of UHP and have additional responsibilities to facilitate further growth of Comtech´s HEIGHTS solutions.
Morgan Lewis & Bockius LLP, Proskauer Rose LLP and Torys LLP are serving as legal counsel to Comtech. KPMG M&A Advisory is serving as financial advisor to UHP. Dentons is serving as legal counsel to UHP.
Comtech Telecommunications Corp. designs, develops, produces and markets innovative products, systems and services for advanced communications solutions. The company sells products to a diverse customer base in the global commercial and government communications markets. For more information, visit www.comtechtel.com.
Comtech EF Data Corp. is a supplier of communications equipment with a focus on satellite bandwidth efficiency and link optimization. The high-performance satellite communications ground equipment is deployed globally to support mission-critical and demanding applications for government, mobile backhaul, premium enterprise and mobility. The solutions are facilitating fixed and mobile networks in over 100 countries. For more information, visit www.comtechefdata.com.
UHP Networks Inc., which is headquartered in Canada, is engaged in the development, manufacturing and marketing of satellite networking equipment. Its core products include universal satellite routers and an advanced Network Management System. UHP-powered solutions have been deployed in hundreds of networks and thousands of remote terminals have been installed in over 50 countries by Tier 1 telecom service providers, broadcasters, government agencies and top-tier Mobile Network Operators. For more information, visit www.UHP.net.