Comtech expects $157.5 million satellite divestiture to Gilat to close by year-end
Comtech says its $157.5 million sale of the satellite segment to Gilat should close by the end of the calendar year.
Comtech expects the sale of its Space and Satellite Communications segment to Gilat Satellite Networks to close by the end of the calendar year. The deal remains subject to regulatory approval and other closing conditions.
Under the acquisition announced in July, Gilat is buying the segment for $157.5 million. Gilat's wholly owned subsidiary Wavestream Corporation is the acquiring entity. On an investor call on 14 October, CEO Kenneth Traub said Comtech contacted more than 150 potential buyers, signed more than 80 non-disclosure agreements and met "numerous prospects".
Traub said the segment has been a difficult business for Comtech to manage, reporting GAAP operating losses of more than $110 million as recently as fiscal 2025. The segment posted a net loss of $17.9 million in fiscal 2026, compared with $136 million in fiscal 2025. Comtech presented its financials as discontinued operations in full-year results released on 14 October.
Sourcesatellitetoday.com