[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.
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