Welcome to our dedicated page for Ceragon Networks news (Ticker: CRNT), a resource for investors and traders seeking the latest updates and insights on Ceragon Networks stock.
Ceragon Networks Ltd (NASDAQ: CRNT) is renowned as the world’s leading wireless backhaul specialist, providing high-capacity wireless connectivity solutions across the globe. Specializing in 5G and 4G broadband wireless connectivity, Ceragon enhances operational efficiency for service providers, public safety organizations, government agencies, and utility companies. Their innovative solutions empower these entities to deliver mission-critical multimedia services and other high-speed, reliable applications.
Ceragon’s core technology, based on a unique multicore approach, offers highly reliable, high-capacity wireless transport with minimal resource utilization. This efficiency translates into increased productivity and simplified network modernization. The company’s IP-50 and IP-20 platforms, along with the PointLink solutions, are instrumental in delivering these capabilities.
Geographically, Ceragon generates its major revenue from India, though it has a significant presence in North America, Europe, Africa, Asia-Pacific, the Middle East, and Latin America. Their deployment spans over 600 service providers and more than 1,600 private network owners in over 130 countries. With a complete portfolio of turnkey end-to-end AI-based managed and professional services, Ceragon ensures efficient network rollout and optimization to maximize value for customers.
Recent achievements include securing a substantial $150 million contract with a Tier 1 operator in India for a network modernization project, and the acquisition of Siklu, enhancing Ceragon’s portfolio with advanced millimeter wave solutions. In 2024, Ceragon expects to deliver revenues between $385-405 million and has moved its long-term target for $500 million in annual revenue forward by 12 months to 2026.
The company is also committed to providing solutions for private networks, particularly in the energy sector, evidenced by their recent strategic deals worth $10 million in Q1 2024. Ceragon continues to evolve with innovations like the Neptune SoC-based millimeter wave technology capable of 100 Gbps, showcased at Mobile World Congress 2024.
For more information, visit www.ceragon.com.
Ceragon Networks Ltd. (NASDAQ: CRNT) announced a multi-million-dollar project awarded by a top-tier North American operator, which includes equipment, software, and managed services for a large expansion. This initiative aims to enhance 5G service offerings using Ceragon's technology, marking a notable increase in their market share. Equipment orders have already begun, with project rollout expected to start in early 2023. Ceragon's strategy focuses on delivering comprehensive solutions, alongside its innovative CeraOptimizer Software, reinforcing their position in the competitive 5G landscape.
Aviat Networks urges Ceragon Networks shareholders to vote FOR the removal of three directors and the election of five independent nominees at the upcoming Extraordinary General Meeting on August 23, 2022. Aviat's proposal, offering $3.08 per share, represents a 47% premium over Ceragon's recent stock price. The current board's failure to negotiate has led to operational challenges and declining stock prices. Aviat emphasizes the need for board change to enhance shareholder value and address ongoing operational setbacks.
Ceragon Networks Ltd. (NASDAQ: CRNT) announced the appointment of Ronen Stein as the new Chief Financial Officer, effective September 21, 2022. Mr. Stein brings over twenty years of experience in financial leadership and M&A expertise. Previously CFO at Siklu, he aims to drive Ceragon's growth and profitability. CEO Doron Arazi expressed confidence in Stein's capabilities to enhance company performance. Ceragon specializes in 5G wireless transport solutions, serving over 400 service providers globally.
Ceragon Networks Ltd. (NASDAQ: CRNT) reaffirms its opposition to Aviat Networks Inc.'s (AVNW) director nominees ahead of the August 23, 2022, Extraordinary General Meeting. Institutional Shareholder Services Inc. (ISS) recommended shareholders vote "AGAINST" all proposals from Aviat, citing concerns over low valuation and uncertainties regarding the transaction's financing. ISS's report highlights the potential risk of Aviat's inability to close the deal and criticizes the lack of relevant board experience among Aviat's nominees. Ceragon urges shareholders to discard any GOLD proxy materials and use the WHITE proxy card.
Ceragon Networks (NASDAQ: CRNT) has rejected Aviat Networks' (NASDAQ: AVNW) revised offer of $3.08 per share, deeming it significantly undervaluing the company. Ceragon's Board, supported by independent advisors, insists the offer fails to reflect their strong business momentum, which includes a 30.3% gross margin and $179 million in bookings for H1 2022. The company urges shareholders to vote against Aviat's proxy card to prevent control of the Board by unqualified nominees, emphasizing they remain open to fair transaction proposals while prioritizing shareholder value.
Ceragon Networks Ltd. (NASDAQ: CRNT) has received a revised non-binding indication of interest from Aviat Networks to acquire all outstanding shares at $3.08 each—$2.80 in cash and $0.28 in equity. The Ceragon Board is reviewing this offer in consultation with financial and legal advisors. Ceragon specializes in 5G wireless transport solutions, providing high-capacity offerings globally, serving over 400 service providers. Shareholders are not required to act currently.
Aviat Networks has submitted a revised proposal to acquire Ceragon Networks at $3.08 per share, comprising $2.80 in cash and $0.28 in Aviat stock. This offer represents a 47% premium to Ceragon's June 27, 2022 closing price and a 64% premium to its 60-day average share price. The proposal aims to provide immediate and long-term value for shareholders, addressing their calls for a combination. Despite Ceragon's recent financial struggles, Aviat remains committed to the acquisition, highlighting potential synergies and revenue growth opportunities from the merger.
Ceragon Networks Ltd. (CRNT) reported Q2 2022 revenues of $70.7 million, a 3.1% increase year-over-year. Operating loss stood at $(0.3) million, with a net loss of $(1.5) million or $(0.02 per diluted share. The company noted strong bookings across regions, particularly a record quarter in North America, which accounted for 26% of total bookings, up 38% from Q1 2022. Despite facing supply chain challenges, Ceragon reaffirmed its 2022 revenue guidance of $300 - $315 million and projected 2023 revenues of $325 - $345 million.
Aviat Networks (NASDAQ: AVNW) has reached out to Ceragon Networks (NASDAQ: CRNT) shareholders, urging them to vote for five independent director nominees at the upcoming Extraordinary Meeting on August 23, 2022. The nominees bring extensive qualifications and are positioned to restore independence to Ceragon's Board, which has seen a significant drop in shareholder value. Aviat proposes these changes to allow for a fresh perspective, particularly in evaluating Aviat's acquisition offer that seeks to deliver immediate value to Ceragon's shareholders.
Ceragon Networks Ltd. (NASDAQ: CRNT) responded to Aviat Networks, Inc.'s hostile takeover bid, asserting that the offer of $2.80 per share grossly undervalues the company. The Ceragon Board remains committed to pursuing only those deals that provide full and fair value for all shareholders. Ceragon emphasizes the importance of an informed shareholder vote against Aviat's attempt to control the Board, which it argues would benefit Aviat shareholders at the expense of Ceragon's investors. The company expresses concerns over Aviat's ability to secure financing and underscored its openness to negotiation under equitable terms.
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