Comtech Telecommunications Corp. announced that it has entered into an agreement to acquire TeleCommunications Systems Inc. (TCS) for $5.00 per share which represents an enterprise value of approximately $430.8M. TCS is a provider of secure and reliable wireless solutions that enable 911, commercial location-based services and deployable wireless infrastructure, cybersecurity, and applications for mobile location-based services and messaging. TCS has LTM revenues of $364.1M and adjusted EBITDA of $40.4M.
According to the press release, strategic benefits to Comtech of the acquisition include:
The transaction is expected to close no later than March 2016. Citigroup Global Markets Inc. is the financial advisor to Comtech. Proskauer Rose LLP is Comtech's legal counsel. Lazard is the financial advisor to TCS and Brian Cave LLP is TCS's legal counsel. Comments are closed.
|
Categories
All
Archives
July 2017
Deal NewsWe provide you with the latest news on acquisitions in the Defense and Government markets. Make sure to subscribe to our weekly deal updates: |