[Satellite TODAY 05-11-10] Comtech Telecommunications has signed an agreement with CPI International to acquire the microwave, radio frequency, power and control solutions provider for $372 million in cash and 4.4 million shares of Comtech stock in a transaction with a total enterprise value of $472.3 million, Comtech announced May 10.
        Comtech will repay all existing CPI debt upon the closing of the transaction. Comtech, on a pro-forma basis and excluding the impact of any additional acquisitions, is anticipated to have between $150 million and $200 million of deployable cash at the time of closing.
        Comtech CEO Fred Kornberg said the acquisition triples the size of Comtech’s RF microwave amplifier segment and is a significant step in his company‚s strategy to developing a one-stop shop for RF microwave products. "The combination will allow us to unite our companies’ resources to develop and bring new and innovative products to market and to our customers. We welcome CPI’s talented workforce to the Comtech team and are excited about the future."
        Kornberg added that the combined RF segment is anticipated to generate more than $50 million in EBITDA on an annual basis. CPI’s sales and EBITDA were $338.5 million and $56.4 million, respectively, for its last four fiscal quarters ending January 2010.

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