Carter Ledyard client, Gilat Satellite Networks Ltd. (Nasdaq: GILT; TASE: GILT) (“Gilat”), and Comtech Telecommunications Corp. (Nasdaq: CMTL) (“Comtech”), jointly announced on January 29, 2020, their agreement for Comtech to acquire Gilat for approximately $532.5 million, in a cash and stock transaction, or $10.25 per Gilat ordinary share. Headquartered in Israel, Gilat is a leading global provider of satellite-based broadband communications, specializing in the development and manufacture of cutting-edge ground segment equipment, and provides comprehensive solutions and end-to-end services, powered by innovative technology. Carter Ledyard Partner Steve Glusband served as U.S. counsel to Gilat throughout the transaction. Partners Austin Keyes, Marc Kushner and Gary Sesser, and Counsel Patricia Matzye, Ann Batchelor Pace and Guy Ben-Ami also assisted with various aspects of this transaction.
