Welcome to our dedicated page for CommScope Holding Company news (Ticker: COMM), a resource for investors and traders seeking the latest updates and insights on CommScope Holding Company stock.
CommScope Holding Company, Inc. (symbol: COMM) is a leading provider of infrastructure solutions for communication, data center, and entertainment networks. Headquartered in Hickory, North Carolina, CommScope specializes in both wired and wireless network solutions, playing a pivotal role in enabling service providers such as cable and telephone companies, data centers, and digital broadcast satellite operators to efficiently deliver media, voice, Internet Protocol (IP) data services, and Wi-Fi to subscribers.
CommScope's operations are divided into several key segments:
- Connectivity and Cable Solutions (CCS): Focuses on providing robust connectivity solutions that include copper and fiber optic cables, as well as connectivity components for various applications.
- Outdoor Wireless Networks (OWN): This segment offers solutions for improving wireless coverage and capacity, particularly in outdoor settings such as remote cell sites and large venues like sports arenas and airports.
- Networking, Intelligent Cellular, and Security Solutions (NICS): Develops intelligent networking solutions to enhance cellular connectivity and network security across complex environments.
- Access Network Solutions (ANS): Provides comprehensive solutions to optimize and expand network access, ensuring high-speed and reliable connectivity.
With a focus on innovation and a commitment to excellence, CommScope is continuously evolving to meet the dynamic needs of modern communication. Recent achievements include advancements in 5G technology, expanding the capabilities of its fiber optic solutions, and forming strategic partnerships to enhance its product offerings. Financially, CommScope has shown resilience and adaptability, investing in R&D to stay ahead in the competitive tech landscape.
CommScope's products and solutions are integral to some of the world's most advanced networks, ensuring seamless connectivity in various environments from bustling airports to high-tech data centers. The company's expertise is crucial for businesses looking to boost bandwidth, expand network capacity, and enhance overall efficiency.
Amphenol (NYSE: APH) has announced a definitive agreement to acquire CommScope's mobile networks businesses for $2.1 billion in cash. The acquisition includes CommScope's Outdoor Wireless Networks (OWN) segment and Distributed Antenna Systems (DAS) business. These businesses are expected to generate approximately $1.2 billion in sales with 25% EBITDA margins in 2024. The deal is anticipated to be accretive to Amphenol's Diluted EPS in the first full year after closing, excluding acquisition-related costs.
The acquisition will add advanced antenna and associated interconnect products, technologies, and capabilities to Amphenol's portfolio, complementing its existing offerings for next-generation wireless networks. The deal is expected to close in the first half of 2025, subject to regulatory approvals and closing conditions. Amphenol plans to finance the acquisition through a combination of cash on hand and debt.
CommScope (NASDAQ: COMM) has announced a definitive agreement to sell its Outdoor Wireless Networks (OWN) segment and Distributed Antenna Systems (DAS) business unit to Amphenol (NYSE: APH) for approximately $2.1 billion in cash. The transaction is expected to close within the first half of 2025, subject to regulatory approvals and customary closing conditions.
CEO Chuck Treadway stated that this move allows CommScope to increase focus on its CommScope NEXT priorities with its remaining segments and business units. The OWN segment provides wireless infrastructure for mobile networks, while the DAS business offers cellular infrastructure solutions for venues, campuses, and enterprises.
CommScope Holding Company, Inc. (COMM), a global leader in network connectivity, has announced it will release its second quarter 2024 financial results on Thursday, August 8, before the market opens. The company will host a conference call at 8:30 a.m. Eastern on the same day to discuss the results. Investors can access the live, listen-only audio of the call through a link on the Events and Presentations page of CommScope's Investor Relations website. A webcast replay will be available on the company's website for a time after the conference call.
CommScope (NASDAQ: COMM) has launched Software Release 13 for its E6000 Converged Edge Router (CER).
This update enables operators to efficiently progress towards 10G networks while utilizing existing equipment.
Key features include support for next-gen cable modems, DAA Remote PHY, D3.1Enhanced channel bonding, Low Latency DOCSIS, and enhanced IPTV operation.
Software Release 13 aims to extend the life of current E6000 deployments, offering significant return on investment by enabling new services, increasing speeds, and maintaining competitive edge.
Lab tests are underway, with field trials expected in 2024. Future releases are planned to further enhance E6000 CER capabilities.
CommScope is committed to ongoing innovation to support the evolving needs of cable networks.
CommScope (NASDAQ: COMM) has been selected by Casa Systems as the highest bidder to acquire Casa’s Cable Business assets for $45.1 million. The sale is expected to be finalized on June 6, 2024, following a sale hearing on June 4, 2024. This strategic acquisition aims to enhance CommScope’s position in the Access Network Solutions market, particularly in virtual CMTS and PON products. The deal is anticipated to yield significant synergies, providing a seamless transition for customers of both companies and enabling CommScope to expand its customer base.
CommScope stockholders approved five proxy proposals at the annual meeting, re-elected directors, ratified Ernst & Young LLP as the independent registered public accounting firm, approved executive officers' compensation, and additional shares under the 2019 Long-Term Incentive Plan. Series A Convertible Preferred Stock holders re-elected directors as well.
CommScope Holding Company, Inc. (NASDAQ: COMM) reported first quarter 2024 results with net sales of $1.168 billion, a GAAP loss of $(262.1) million, and non-GAAP adjusted EBITDA of $153.0 million. The company highlighted challenges due to lower demand but saw signs of recovery in some businesses. With a decline in net sales by 30%, adjusted EBITDA down 51%, and a loss per share of $(0.08), CommScope aims for a future recovery in all segments amidst current economic conditions. Initiatives are in place to improve profitability and capitalize on the expected demand recovery starting the second half of 2024. The company maintains significant liquidity of over $900 million.
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