AcquisitionsAug 10, 2026, 06:22 AM
Gilat to Acquire Comtech Segment for $157.5M
AI Summary
Gilat Satellite Networks Ltd. announced a definitive agreement to acquire the majority of Comtech Telecommunications Corporation's Satellite & Space Communications segment for $157.5 million in cash. An advance payment of $10 million has been made, with the transaction expected to close by the end of 2026, subject to regulatory approvals. Concurrently, Gilat reported strong financial results for the six months ended June 30, 2026, with total revenues increasing by 18.3% to $233.1 million and net income soaring by 248.9% to $13.4 million compared to the same period in 2025.
Key Highlights
- Gilat signed agreement to acquire Comtech segment for $157.5M cash.
- Paid $10M advance for Comtech acquisition, expected to close by end of 2026.
- Total revenues for H1 2026 increased 18.3% to $233.1M.
- Net income for H1 2026 surged 248.9% to $13.4M.
- Basic EPS for H1 2026 rose to $0.18 from $0.07.
- Operating income for H1 2026 increased 209% to $9.1M.
- Total assets grew 2.0% to $761.2M as of June 30, 2026.
- Cash and cash equivalents were $144.8M as of June 30, 2026.
Price Impact
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