Comtech Telecommunications closes strategic acquisition of UHP Networks

On March 3, 2021, Comtech Telecommunications Corp. ("Comtech") announced the closing of its acquisition of UHP Networks Inc. ("UHP").

The initial up-front payment of approximately US$24 million was paid in shares of Comtech common stock. An additional payment of US$5 million (payable in cash and/or common stock at Comtech’s option) is due upon certain conditions being met, all of which are expected to occur within twelve months of closing. The purchase agreement also provides for an earn-out payment of up to an additional US$9 million (payable in cash and/or common stock at Comtech’s option) if certain agreed upon sales milestones are reached over an eighteen-month period.

Further information can be found on Business Wire's website.

UHP, headquartered in Canada, is engaged in the development, manufacturing and marketing of satellite networking equipment.

Comtech designs, develops, produces and markets innovative products, systems and services for advanced communications solutions.