Comtech Telecommunications Corp. (CMTL) signed a definitive agreement to sell its Satellite and Space Communications segment to Gilat Satellite Networks (GILT). The cash transaction is valued at $157.5 million.
Gilat will provide an initial payment of $10 million. Both companies' boards unanimously approved the sale. The transaction is expected to close by the end of 2026, subject to regulatory approvals.
Comtech intends to refocus operations on the public safety technology sector. This includes its Allerium segment which provides Next Generation 9-1-1 infrastructure.
The acquisition expands Gilat’s presence in the United States. It adds advanced defense and satellite solutions like RF technologies and Troposcatter systems to Gilat's portfolio.