COMTECH HAS THE RIGHT BOARD, MANAGEMENT TEAM, AND STRATEGY IN PLACE TO CONTINUE TO DRIVE LONG-TERM VALUE CREATION FOR ALL SHAREHOLDERS.
Enhancing our position as a secure wireless technology leader and delivering strong results through continued execution of our strategic plan:
- Industry-leading positions across two large and attractive markets where we provide critical, advanced communication and location solutions to a broad set of blue-chip customers.
- Clear visibility to over $1 billion of future revenue, including over $200 million in multi-year next-generation 911 (NG-911) contracts secured in fiscal year 2021.
- Pivotal new satellite technology contract with Low Earth Orbit satellite customer that has the strong potential to generate hundreds of millions of dollars of incremental revenue.
- Recognition from Frost & Sullivan and Northern Sky Research for market leadership in NG-911 and the growing satellite cellular backhaul market.
- $100 million strategic growth investment from current shareholder White Hat Capital and Magnetar Capital reflects confidence in Comtech’s growth plan and leadership team, with the proceeds to be applied across a range of initiatives to accelerate growth and increase profitability.
Enacting transformative and thoughtful corporate governance enhancements:
- Ken Peterman, a seasoned satellite executive, joined the Board in May 2022 and was elected Chairman of the Board in July 2022.
- Appointed Lisa Lesavoy in 2020 and Judy Chambers in 2021, bolstering our Board’s financial expertise and diversity of perspectives.
- Announced the retirement of three long-standing directors following our 2021 Annual Meeting and the appointment of current Audit Committee Chairman Larry Waldman as Lead Independent Director.
- In connection with our recent investment from White Hat and Magnetar, Mark Quinlan, 20+ years’ experience in the technology sector, joined the Board in 2022.