Comtech To Acquire Radyne
[Satellite Today – 5-12-08] Comtech Telecommunications Corp. will acquire Radyne Corp. in an all-cash transaction worth about $223.6 million in equity, Comtech announced May 12.
Radyne’s satellite earth station business is located only a few miles away from Comtech EF Data Corp.‘s high-volume technology manufacturing facilities in Tempe, Ariz. All aspects of Radyne’s satellite earth station business will be fully integrated into Comtech EF Data. Comtech will eliminate redundancies by closing Radyne’s manufacturing facility.
"This strategic combination makes sense for both companies and I firmly believe it is the right step at the right time for all of Radyne’s stakeholders,” Myron Wagner, CEO of Radyne, said in a statement. “Our shareholders will benefit from a significant premium to Radyne’s stock price, our customers will benefit from greater resources and product offerings, and our employees will benefit from being part of a larger, more diversified company. I look forward to working with Comtech’s management team during the integration period."