November 21, 2019
Torys is representing Comtech with a team led by John Emanoilidis and which includes Zehra Sheerazi and Jessica Earle (corporate/M&A), Susan Nickerson and Tom Stevenson (employment) and Craig Maurice (tax).
On November 21, 2019, Comtech Telecommunications Corp. (“Comtech”) announced that it entered into an agreement to acquire UHP Networks Inc. (“UHP”) for a purchase price of approximately US$40 million. The purchase price includes the acquisition of a sister company and all of their intellectual property. The purchase agreement also provides for an additional earn-out payment of up to US$10 million, if certain agreed upon sales milestones are reached over a twelve-month period after close.
The transaction is expected to close late in the second half of fiscal 2020, subject to customary closing conditions.
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.