Comtech Board Unanimously Rejects Unsolicited Acquisition Offer From Acacia Research - Quick Facts

(RTTNews) - Comtech Telecommunications Corp. (CMTL), a provider of next-generation 911 emergency systems and secure wireless communications technologies, announced Tuesday that the Company's Board of Directors has unanimously rejected the unsolicited proposal to acquire Comtech received from Acacia Research Corp. (ACTG) on October 29, 2021.

The Comtech Board of Directors, including the recently appointed members, carefully evaluated the proposal in consultation with the Board's independent advisors and determined that the proposal grossly undervalues the Company and is not in the best interests of Comtech's shareholders.

The board also determined that the offer does not reflect the transformational changes underway in the Company's end-markets and the significant inherent value in the Company's plan, and, thus, is not in the best interests of the Company and its shareholders.