Aviat Networks, Inc. - AVNW STOCK NEWS

Aviat Networks urges Ceragon shareholders to vote for board changes to enhance shareholder value. In a letter, Aviat criticized the current board's entrenched positions and alleged conflicts of interest, particularly concerning directors with ties to Chairman Zohar Zisapel. Aviat proposed increasing the board size, removing three directors, and electing five independent nominees with diverse expertise. The letter emphasizes the urgent need for governance reform to restore shareholder confidence and address Ceragon's ongoing financial struggles, including a cumulative negative cash flow of $29 million since early 2021.

Joseph D. Samberg, the largest shareholder of Ceragon Networks (NASDAQ: CRNT), has expressed support for the company and its management while rejecting the recent acquisition offer from Aviat Networks (NASDAQ: AVNW). Samberg, owning nearly 10% of Ceragon's stock, believes the acquisition undervalues the company. He also plans to vote in favor of current directors at the upcoming shareholder meeting. Samberg cites confidence in CEO Doron Arazi and a positive outlook for Ceragon's growth driven by improved supply chains and technological advancement.

Aviat Networks, Inc. (AVNW) has issued an open letter urging Ceragon Networks Ltd. (CRNT) shareholders to advocate for the acceptance of Aviat's acquisition proposal. Aviat highlights Ceragon's poor stock performance, down 12% over five years versus a 33% gain for the Russell 2000, and a decline in gross margins from 34% to 30%. Additionally, Ceragon faces $42 million in negative free cash flow. Aviat criticizes the current leadership's mismanagement, especially regarding delays in developing a next-generation chip, and calls for board changes to ensure better oversight and strategic direction.

Aviat Networks, Inc. (NASDAQ: AVNW) issued an open letter to the Board of Ceragon Networks Ltd. (NASDAQ: CRNT) urging the scheduling of an extraordinary general meeting. As Ceragon's third-largest shareholder, Aviat, holding over 5% of shares, seeks to replace three directors with five new independent candidates. Aviat expressed disappointment over Ceragon's lack of engagement regarding its acquisition proposal, emphasizing the need for transparency and accountability for shareholders.

Aviat Networks has completed its acquisition of Redline Communications as of July 5, 2022, enhancing its capabilities in wireless transport solutions. This acquisition enables Aviat to provide an integrated offering for private network operators and establishes a new 5G R&D Center of Excellence in Canada. The merger aims to strengthen Aviat's market position in mission-critical networks while committing to maintaining existing engineering jobs and research expenditures in Canada. CEO Peter Smith expressed enthusiasm about the expanded talent for developing advanced 5G-based wireless solutions.

Aviat Networks (NASDAQ: AVNW) has successfully completed the acquisition of Redline Communications Group, enhancing its offerings in wireless transport solutions. This acquisition allows Aviat to provide integrated solutions for Private LTE/5G, targeting an $8 billion market. The CEO of Aviat stated that this will facilitate an expanded global market reach. Redline shares are expected to be delisted from the Toronto Stock Exchange on July 7, 2022, following the all-cash acquisition of CAD$0.90 per share. Aviat reaffirms its revenue guidance for FY22 at $296-$300 million and Adjusted EBITDA at $37-$39 million.

Aviat Networks, Inc. (NASDAQ: AVNW) is pushing for significant changes at Ceragon Networks Ltd. (NASDAQ: CRNT), calling for an extraordinary meeting to restructure its board of directors. Aviat, which holds over 5% of Ceragon shares, plans to remove three current directors and elect five independent candidates. This move follows Aviat's claim that Ceragon’s board has led to significant shareholder value destruction and ignored a premium acquisition offer of $2.80 per share. Aviat emphasizes the need for a board that prioritizes shareholder interests and creates value.

Aviat Networks has proposed to acquire Ceragon Networks for $2.80 per share in cash, representing a 51% premium to Ceragon's recent trading average. This nonbinding proposal aims to create a leading wireless transport solutions company, enhancing operational efficiencies and competitive positioning through significant synergies estimated at $35 million. Aviat, holding over 5% of Ceragon's shares, is calling for an extraordinary general meeting to elect new directors to evaluate this acquisition. The proposal reflects Aviat's belief in delivering immediate value to Ceragon shareholders.

MaxLinear (NASDAQ: MXL) has announced the development of its next-generation modem, the MxL852xx, in collaboration with Aviat Networks (NASDAQ: AVNW). This integrated System on Chip (SoC) aims to enhance wireless transport networks by offering greater capacity, superior reach, and the lowest total cost of ownership. The wireless transmission market is projected to reach $17.2 billion from 2022 to 2026, driven by the ongoing 5G deployment. The MxL852xx integrates multiple functionalities, including multicore modem implementation and enhanced IP traffic management.