Comtech Extends UHP Acquisition Term
Comtech Telecommunications has extended the term of its acquisition agreement for UHP Networks until Feb. 28, 2021, Comtech announced Dec. 30.
Comtech’s intent to acquire UHP was first announced in November 2019. At the time, the companies expected the transaction to close by the end of 2020. UHP is based in Canada and manufactures Very Small Aperture Terminal (VSAT) satellite networking equipment.
In June, Comtech amended the price of the UHP purchase, reducing it approximately 24%, from $50 million to $38 million.
Another Comtech acquisition — its acquisition of Gilat Satellite Networks — recently fell apart. In October, Comtech agreed to pay Gilat $70 million to terminate the merger. The companies said pandemic-related challenges made the merger difficult.