By Adam L. Cataldo
Comtech will pursue a strategy to transform the company into a pure-play satellite and space communications provider.
The company said Thursday its board of directors and management team will pursue a plan that includes an exploration of strategic alternatives for its terrestrial and wireless networks that is already under way. Proceeds from a divestiture of those networks would lead to a simplified capital structure and strengthen its balance sheet, the company said.
As part of its new strategy, Comtech said it plans to take what it called portfolio-shaping and operations initiatives. That involves identifying opportunities to divest, separate and rationalize those businesses and facilities that don't align with its new focus.
Write to Adam Cataldo at adam.cataldo@wsj.com
(END) Dow Jones Newswires
October 17, 2024 18:02 ET (22:02 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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