[Via Satellite 02-24-2016] Comtech Telecommunications has closed its acquisition of TeleCommunication Systems (TCS), the company announced on Feb. 23. As a result of the completion of the merger, the common stock of TCS is no longer listed for trading on the Nasdaq Global Market or any other exchange, and trading ceased at the close of the markets on Feb. 23. TCS stockholders received $5 per share in cash.
“The acquisition provides a transformational opportunity for Comtech and is a significant step in our strategy of entering complementary markets and expanding our domestic and international commercial offerings,” said Stanton Sloane, president and CEO of Comtech. “We continue to work hand in hand with TCS to integrate our two great companies and look forward to providing additional information about the close of the transaction on our second quarter financial results conference call which is scheduled to occur in March 2016.”
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