Comtech Telecommunications Corp. Extends Term of Acquisition Agreement for UHP

Rhea-AI Summary

Comtech Telecommunications Corp. (NASDAQ: CMTL) has extended its agreement to purchase UHP Networks, Inc. until February 28, 2021. UHP, a Canadian company, specializes in advanced satellite ground station technology and aims to transform the Very Small Aperture Terminal (VSAT) market. This acquisition, initially announced in November 2019, is expected to enhance Comtech's product offerings in the global communications sector. However, the announcement also highlights the presence of risks associated with forward-looking statements.

Positive

• Acquisition of UHP expands Comtech's technological capabilities in the VSAT market.
• UHP's innovative solutions align with Comtech's strategy to enhance advanced communications.

Negative

• Extension of the acquisition timeline may indicate unresolved issues or integration challenges.
• Forward-looking statements include significant risks and uncertainties that could affect future performance.

December 30, 2020 -- Comtech Telecommunications Corp. (“Comtech”) (NASDAQ: CMTL) reported today that Comtech and UHP Networks, Inc. (“UHP”), a leading provider of innovative and disruptive satellite ground station technology solutions, agreed to extend their agreement for Comtech’s purchase of UHP, which was originally announced in November 2019, until February 28, 2021. UHP is based in Canada and has developed revolutionary technology that is transforming the Very Small Aperture Terminal ("VSAT") market.

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.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company's Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings.

PCMTL

View source version on businesswire.com: https://www.businesswire.com/news/home/20201230005352/en/

FAQ

What is the latest update regarding the acquisition of UHP by Comtech?

Comtech has extended its agreement to acquire UHP Networks until February 28, 2021.

What technology does UHP Networks specialize in?

UHP Networks specializes in innovative satellite ground station technology and VSAT market solutions.

When was the original acquisition agreement for UHP announced?

The original acquisition agreement for UHP was announced in November 2019.

What risks are associated with Comtech's acquisition of UHP?

The acquisition includes forward-looking statements with significant risks and uncertainties outlined in Comtech's SEC filings.

How will the acquisition of UHP impact Comtech's business?

The acquisition is expected to enhance Comtech's offerings in advanced communications solutions and improve market competitiveness.