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Jun 15, 2026 12:00 PM

Comtech Sells Satellite Unit To Gilat: What Happens Next?

Comtech Telecommunications Corp. (NASDAQ:CMTL) stock rose Monday after the communications technology company agreed to sell most of its Satellite and Space Communications business to Gilat Satellite Networks Ltd. (NASDAQ:GILT) for $157.5 million and reported fiscal third-quarter results that topped earnings expectations.

Comtech To Sell Satellite Business

Comtech said it signed a definitive agreement to sell most of its Satellite and Space Communications segment to Gilat for $157.5 million, including a $10 million payment made at signing. The company expects the transaction to close in the fourth quarter of calendar 2026, subject to regulatory approvals and customary closing conditions.

The company will retain certain cyber-focused assets and rights to some accounts receivable collections. Following the ...