Comtech headquarters in Melville, N.Y. Photo: Comtech PST
[Via Satellite 11-23-2015] Comtech Telecommunications and TeleCommunication Systems (TCS) jointly announced today the signing of a definitive merger agreement under which Comtech will purchase TCS in a cash transaction for approximately a $430.8 million enterprise value.
During the 12 months ended Sep. 30, TCS reported revenue of $364.1 million and Adjusted EBITDA of $40.4 million, and during the 12 months ended July 31, Comtech reported revenue of $307.3 million and Adjusted EBITDA of $51.8 million. Based on the trailing 12 months reported for the two companies, pro forma combined revenue would have been $671.4 million, with Adjusted EBITDA of $92.2 million (excluding synergies). The combined companies employ about 2,000 people.
“TCS is a unique business and a leading provider of mission-critical C4ISR solutions and next generation emergency 911 services to leading cellular and VoIP providers. The acquisition is a significant step in our strategy of entering complementary markets and expanding our domestic and international commercial offerings,” Stanton Sloane, president and CEO of Comtech, said.
The post Comtech Acquires TeleCommunication Systems for $430.8 Million appeared first on Via Satellite.