Comtech Telecommunications Corp. (Nasdaq: CMTL) has announced it has agreed to acquire Solacom Technologies Inc., a provider of Next Generation 911 solutions for public safety agencies, for USD 33.0 million, the company said.
The impact of the Solacom acquisition with respect to Comtech´s fiscal 2019 financial guidance will be dependent on the timing of the closing of the transaction, which is expected to occur sometime during Comtech´s fiscal quarter ending April 30, 2019.
Comtech will provide financial and other information concerning the Solacom transaction during its regularly scheduled conference call to review the results of its fiscal quarter ending January 31, 2019, the exact date and time of which will be announced in advance. A separate presentation related to the Solacom acquisition is available at www.comtechtel.com.
Proskauer Rose LLP and Torys LLP are serving as legal counsel to Comtech. Menalto Advisors is serving as financial advisor to Solacom. Blake, Cassels & Graydon LLP and Kelly Santini LLP are serving as legal counsel to Solacom.
The transaction is subject to customary closing conditions.
Comtech Telecommunications Corp. designs, develops, produces and markets innovative products, systems and services for advanced communications solutions. Comtech sells products to a diverse customer base in the global commercial and government communications markets.
Solacom´s 911 call handling and management solutions are built on more than 30 years of research and innovation in the application of advanced hardware and software technologies for public safety. Today, Solacom´s Guardian 911 solutions support thousands of agencies affecting millions of lives annually. For more information, visit: www.solacom.com.