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TeleCommunication Systems Acquired By Comtech Telecommunications

Monday, November 30, 2015   (0 Comments)
Posted by: Satnews
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Comtech Telecommunications Corp. andTeleCommunication Systems, Inc. (NASDAQ: TSYS or “TCS” announce the signing of a definitive merger agreement under which Comtech will purchase TCS in a cash transaction for $5.00 per TCS share, or approximately a $430.8 million enterprise value. The $5.00 price per share represents a premium of 13.9 percent as compared to the last closing trading price of TCS common stock, a premium of 28.6 percent as compared to the volume—weighted average trading price over the last 90 trading days and a premium of 35.1 percent as compared to the last closing trading price one day after TCS' July 6, 2015, announcement that its Board had formed a special committee to explore strategic alternatives to enhance stockholder value.

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