Comtech (CMTL) has disclosed its strategic alternatives process for its Terrestrial and Wireless Networks segment, with plans to become a pure-play satellite and space communications company.
The company stated that there is no guarantee that exploring strategic alternatives will lead to a transaction or other significant changes. There is no set timeframe for the conclusion of this process, and the company does not plan to provide additional comments on the matter unless further disclosure is deemed appropriate or necessary.
Comtech noted that proceeds from the potential divestiture of Terrestrial & Wireless Networks would enable the company to substantially simplify its capital structure and strengthen its balance sheet.
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