Tag: Telecom

Charter to Acquire Liberty Broadband Corporation in $280M All-Stock Deal

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Charter to acquire Liberty Broadband in a $280M all-stock transaction.
– Acquisition reduces Charter’s outstanding shares by 11.5 million.
– Key shareholders, including John Malone, support the strategic merger.

Charter Communications, Inc. (NASDAQ: CHTR) has entered into an agreement to acquire Liberty Broadband Corporation (NASDAQ: LBRDA, LBRDK, LBRDP) in an all-stock transaction valued at $280 million. This strategic acquisition will significantly enhance Charter’s reach in the U.S. broadband market, bringing together key assets and expanding its operational scale.

The terms of the agreement specify that Liberty Broadband shareholders will receive 0.236 shares of Charter common stock per share held, while preferred shareholders will gain new Charter preferred stock mirroring their current terms. A crucial aspect of the acquisition is Liberty’s plan to spin off its GCI subsidiary, Alaska’s largest communications provider, which serves remote and challenging regions. Charter will assume the tax liability for this spin-off if it exceeds $420 million, with closing anticipated by mid-2027 pending regulatory approvals and shareholder votes.

Charter expects to benefit from a net reduction of approximately 11.5 million shares by retiring the 45.6 million shares currently held by Liberty Broadband. Liberty’s existing debt of $2.6 billion will be addressed through repayment or assumption, alongside $180 million of preferred equity that will convert to Charter preferred equity upon closing.

Support from key shareholders, including John Malone and Greg Maffei, will play an essential role, with both expressing optimism for the merger’s potential. “This transaction simplifies our corporate structure, aligning with Charter’s long-term strategic goals,” said Malone. Greg Maffei, Liberty Broadband’s CEO, stated that the partnership offers substantial growth potential and value creation for both Charter and Liberty shareholders.

The Boards of both companies, alongside independent legal and financial advisors, have approved the merger, noting that the transaction will enhance market competitiveness while increasing liquidity for Liberty shareholders. Centerview Partners and Citi are advising Charter, while J.P. Morgan advises Liberty Broadband.

As Charter moves forward with this acquisition, the merger is expected to enhance shareholder value, increase access to communications services, and streamline governance processes for both companies.

Blockbuster Music Rights Deal: Blackstone Outbids Concord for Hipgnosis Songs

Posted on by slightbourne@noblecapitalmarkets.com

In a major shakeup in the booming music rights acquisition space, private equity giant Blackstone has emerged victorious in a heated bidding war to acquire Hipgnosis Songs Fund, trumping an earlier offer from music company Concord.

The deal, valued at around $1.57 billion, sees Blackstone acquiring the prized music rights portfolio of Hipgnosis, which holds over 65,000 songs from iconic artists like Shakira, Red Hot Chili Peppers, Blondie, and Neil Young. Blackstone’s superior cash offer of $1.30 per share outmaneuvered Concord’s bid of $1.25 per share, which had previously received the backing of Hipgnosis’ board. However, the board has now withdrawn its recommendation in favor of Blackstone’s higher bid.

The transaction represents a significant expansion of Blackstone’s already formidable music rights holdings. The private equity titan has been aggressively building its intellectual property portfolio, with existing assets including hit songs from superstars like Justin Bieber, Justin Timberlake, and performance rights organization SESAC, which boasts affiliates like Bob Dylan and Adele.

The Hipgnosis acquisition also sets the stage for an insightful discussion at Noble Capital Markets’ upcoming Consumer, Communications, Media and Technology Virtual Conference in June. Hosted by leading industry analysts, the conference will provide a comprehensive look at the latest trends, challenges, and opportunities shaping the dynamic technology, media, and telecom landscape. With disruptive forces like streaming, 5G, and AI reshaping multiple industries, analysts are eager to examine the strategic implications and growth avenues for major players across this critical sector. The music rights boom will undoubtedly be a key topic of discussion, but the conference aims to deliver a holistic perspective on the evolving TMT ecosystem.

As the dust settles on this blockbuster deal, all eyes will be on Blackstone’s next strategic moves in the world of music IP. With its substantial resources and existing portfolio, the private equity titan is well-positioned to further consolidate its dominance in this lucrative arena. The company’s aggressive pursuit of Hipgnosis signals its belief in the long-term value and growth potential of iconic musical works as the industry continues its shift towards streaming platforms and new content consumption models emerge.

SoftBank Bounces Back: $7.6B T-Mobile Win Boosts Assets After String of Investment Flops

Posted on by slightbourne@noblecapitalmarkets.com

Japanese conglomerate SoftBank Group saw its shares soar 5% this week after announcing it will receive a windfall stake in T-Mobile US worth $7.59 billion. The deal highlights a reversal of fortunes for SoftBank and its founder Masayoshi Son, who has weathered missteps like the WeWork debacle but is now reaping rewards from past telecom investments.

The share acquisition comes through an agreement made during the merger of SoftBank’s US telecom unit Sprint and T-Mobile. With the merger complete and certain conditions met, SoftBank will receive 48.75 million T-Mobile shares, doubling its stake in the mobile carrier from 3.75% to 7.64%.

This is a big win for SoftBank as it substantially increases its portfolio of listed assets. SoftBank has worked to shift towards more conservative investments after facing heavy criticism for pouring money into overvalued late-stage startups like WeWork. The Japanese firm was forced to bail out WeWork after its failed IPO in 2019, leading to billions in losses.

However, the T-Mobile windfall, along with the recent blockbuster IPO of SoftBank-owned chip designer Arm, helps balance the books. It also bumps SoftBank’s internal rate of return on its original Sprint investment to 25.5%, a solid result.

SoftBank Trading at Steep Discount Despite Strong Assets

Even with missteps like WeWork, SoftBank still holds an impressive array of assets from its years of prolific venture investing. Yet the Japanese firm trades at a 45% discount to the value of its holdings, presenting an opportunity for investors.

The influx of liquid T-Mobile shares adds more tangible value compared to some of SoftBank’s private startup investments. Having more listed stocks helps improve SoftBank’s loan-to-value ratio, giving it more marginable equity relative to debt obligations.

This could help narrow the gap between SoftBank’s market capitalization and net asset value. The T-Mobile windfall and Arm IPO shore up SoftBank’s balance sheet with listed assets at a time when the gap between its market cap and value of holdings remains substantial.

Son’s Missteps Bring Scrutiny But Vision Still Intact

While the WeWork bet soured investor perception of SoftBank’s investment strategy, Son has shown he still has an eye for disruption. His early investments in Alibaba and Yahoo! set the stage for his later dominance in late-stage startup funding.

However, the WeWork debacle led Son to pledge increased financial discipline and a shift towards AI-focused companies. Recent wins like the Coupang IPO and rising value of holdings like DoorDash reassure investors that Son still knows how to pick winners early.

SoftBank also stands to benefit from Son’s long-term vision on the potential of AI, having acquired chipmakers like Arm to position itself as a leader in the so-called Information Revolution. As AI comes to dominate technology over the next decade, SoftBank’s early moves could pay off handsomely if Son’s predictions come true.

T-Mobile Deal Highlights Importance of Sprint Merger

While US regulators initially balked at the T-Mobile/Sprint merger over competition concerns, the deal is now paying off for SoftBank. The Japanese firm’s persistence in pursuing the merger exemplifies its long-term approach, as the benefits are now apparent.

The combined T-Mobile/Sprint is now a much stronger competitor versus Verizon and AT&T, going from the 4th largest US wireless carrier to 2nd largest. T-Mobile has aggressively expanded its 5G network and subscriber base since completion of the merger in 2020.

SoftBank also benefited by negotiating the share acquisition as part of the original merger agreement, allowing it to substantially increase its T-Mobile stake down the road at minimal additional cost.

Final Thoughts

The T-Mobile share acquisition highlights a reversal of fortunes for SoftBank after missteps like WeWork resulted in negative headlines and billions in losses. While the firm still trades at a discount to the value of its holdings, the T-Mobile windfall and Arm IPO help increase its listed assets versus debt.

Son’s long-term vision and willingness to make bold bets still drive SoftBank, even if investments like WeWork went sour. With the US telco mission accomplished by enabling the Sprint/T-Mobile merger, SoftBank now has both its legacy telecom investment and new T-Mobile shares paying off. Looking ahead, SoftBank is well-positioned in AI and next-gen chips to ride disruption waves far into the future if Son’s predictions on technology evolution prove prescient.

Release – Comtech Welcomes Descartes Labs as New EVOKE Technology Partner

Posted on by aweinsoff@channelchek.com

Research News and Market Data on CMTL

Apr 5, 2023 9:12 AM

MELVILLE, N.Y. –
Apr. 5, 2023–Comtech (NASDAQ: CMTL) announced today that Descartes Labs will become the Company’s third publicly revealed EVOKE technology partner.

As the third publicly announced EVOKE technology partner, Descartes Labs will work with Comtech to infuse the power of artificial intelligence (AI), Machine Learning (ML), predictive intelligence, and monitoring insights across Comtech’s business verticals. Such data services and solutions are intended to serve Comtech commercial and government customers across the globe and represent a cornerstone of Comtech’s commitment to continually improving the customer experience with innovative services and solutions.

“As our latest EVOKE technology partner, Descartes Labs brings one of the world’s fastest cloud-native supercomputers and industry leading geospatial data analysis capabilities that will enable us to provide commercial and government customers with powerful new insights and services,” said Ken Peterman, President and CEO, Comtech. “We will work together to quickly deliver smart-insight powered technologies that can make the world a better, safer place that leaves no one behind in today’s technology driven society.”

Descartes Labs, Inc. and its wholly owned subsidiary Descartes Labs Government, is a geospatial analytics company that focuses on rapidly prototyping dual-use commercial AI and ML solutions for Government and Fortune 500 companies.

“There is tremendous value in the alliance between Descartes Labs and Comtech,” said Richard Davis, CEO, Descartes Labs. “We are honored to be selected as one of the first EVOKE technology partners. Our core mission is to find the signal in the noise created by a myriad of global data sets using AI/ML. Together with Comtech, we will develop data products that address the growing demand for insights that rely on the fusion of data derived from space technologies, telecommunications networks, and earth observation sensors. The solutions to problems we can solve together is only limited by our own creativity.”

EVOKE is Comtech’s Innovation Foundry, which is led by the company’s Chief Growth Officer, Anirban Chakraborty, and is dedicated to creating and accelerating transformational changes across the global technology landscape. EVOKE engages with customers, partners, and suppliers to push the boundaries of technologies that will lay the foundation of connectivity as well as shape future societies and ecosystems.

About Comtech

Comtech Telecommunications Corp. is a leading global technology company providing terrestrial and wireless network solutions, next-generation 9-1-1 emergency services, satellite and space communications technologies, and cloud native capabilities to commercial and government customers around the world. Our unique culture of innovation and employee empowerment unleashes a relentless passion for customer success. With multiple facilities located in technology corridors throughout the United States and around the world, Comtech leverages our global presence, technology leadership, and decades of experience to create the world’s most innovative communications solutions.For more information, please visit www.comtech.com.

About Descartes Labs

Descartes Labs (DL), and its wholly-owned government subsidiary, Descartes Labs Government, Inc. (DLG), solve the world’s most complex problems. They offer customers an accelerated ability to address operational needs by transforming the world’s data into actionable and predictive insights that impact climate change, sustainability, food security, mission-critical intelligence, humanitarian efforts, and safeguards natural resources at the speed of relevance. DL and DLG’s solutions and services offer unique advantages to our customers that are grounded in an ever-expanding portfolio of dual-use commercial products and capabilities which are enabled by our core technology stack. Descartes Labs is an industry innovator, transforming data to decisions around the world. Descartes Labs is headquartered in Santa Fe, New Mexico.

Forward-Looking Statements

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results and performance could differ materially from such forward-looking information. The Company’s Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings.

PCMTL

View source version on businesswire.com: https://www.businesswire.com/news/home/20230404006122/en/

Investor Relations

Robert Samuels

631-962-7102

robert.samuels@comtech.com

Media Contact

Jamie Clegg

480-532-2523

jamie.clegg@comtech.com

Comtech Telecommunications (CMTL) – Transformation Delivering Results; Raising PT to $16

Posted on by cpereira@noblefcm.com


Tuesday, December 13, 2022

Comtech Telecommunications Corp. engages in the design, development, production, and marketing of products, systems, and services for advanced communications solutions in the United States and internationally. It operates in three segments: Telecommunications Transmission, Mobile Data Communications, and RF Microwave Amplifiers. The Telecommunications Transmission segment provides satellite earth station equipment and systems, over-the-horizon microwave systems, and forward error correction technology, which are used in various commercial and government applications, including backhaul of wireless and cellular traffic, broadcasting (including HDTV), IP-based communications traffic, long distance telephony, and secure defense applications. The Mobile Data Communications segment provides mobile satellite transceivers, and computers and satellite earth station network gateways and associated installation, training, and maintenance services; supplies and operates satellite packet data networks, including arranging and providing satellite capacity; and offers microsatellites and related components. The RF Microwave Amplifiers segment designs, develops, manufactures, and markets satellite earth station traveling wave tube amplifiers (TWTA) and broadband amplifiers. Its amplifiers are used in broadcast and broadband satellite communication; defense applications, such as telecommunications systems and electronic warfare systems; and commercial applications comprising oncology treatment systems, as well as to amplify signals carrying voice, video, or data for air-to-satellite-to-ground communications. The company serves satellite systems integrators, wireless and other communication service providers, broadcasters, defense contractors, military, governments, and oil companies. Comtech markets its products through independent representatives and value-added resellers. The company was founded in 1967 and is headquartered in Melville, New York.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

1Q23 Results. Revenue of $131.1 million was up 3.3% sequentially and is the fourth consecutive quarter of growth. Y-o-Y revenue was down 12.2%. We were at $128.3 million. Adjusted EBITDA totaled $10.7 million, nearly double the $5.5 million in 1Q22. We were at $10.2 million. Driven by CEO transition costs, Comtech reported a net loss of $12.8 million, or a loss of $0.46 per share, compared to a net loss of $11.2 million, or $0.43 per share last year. We had forecast a net loss of $3.2 million, or a loss of $0.12 per share.

Making Progress. The transformation of the business into One Comtech is taking root. Key Performance Indicators for the quarter were above expectations. The Senior management team has been restructured and the Company is positioned for growth, in our view. 


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Release – Digerati Announces Appointment of Derek Gietzen to President

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on DTGI

SAN ANTONIO, October 3, 2022 (GLOBE NEWSWIRE) Digerati Technologies, Inc. (OTCQB: DTGI) (“Digerati” or the “Company”), a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the small to medium-sized business (“SMB”) market, today announced that Derek Gietzen has been named as the Company’s President. Currently, Mr. Gietzen is President of NextLevel Internet (“NextLevel”), a Digerati subsidiary.

Mr. Gietzen is an experienced 20-year telecommunications executive with a track record of managing successful high-growth companies. In addition to achieving consistent double-digit growth at NextLevel, Mr. Gietzen’s passion for creating amazing corporate cultures led NextLevel to be recognized as a certified ‘Great Place to Work in the U.S’, for each of the last three years.

“Since our acquisition of NextLevel earlier this year, Derek has been instrumental in the operational integration of Digerati’s various subsidiaries,” said Arthur L. Smith, Chief Executive Officer. “Derek is an inspirational leader who perfectly aligns with our core values and brings the added skills necessary to successfully execute our business plan and ongoing M&A strategy. We are confident his contribution will enhance our ability to deliver on our corporate goals and assist us with creating long-term shareholder value.”

“This is an exciting time for Digerati, and I am thrilled to be taking on the role of President of the combined operations,” said Derek Gietzen. “We have an amazing leadership team, and I look forward to all we can accomplish.”

About Digerati Technologies, Inc.

Digerati Technologies, Inc. (OTCQB: DTGI) provides cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the business market. Through its operating subsidiaries NextLevel Internet (NextLevelinternet.com), T3 Communications (T3com.com), Nexogy (Nexogy.com), and SkyNet Telecom (Skynettelecom.net), the Company is meeting the global needs of small businesses seeking simple, flexible, reliable, and cost-effective communication and network solutions including, cloud PBX, cloud telephony, cloud WAN, cloud call center, cloud mobile, and the delivery of digital oxygen on its broadband network. The Company has developed a robust integration platform to fuel mergers and acquisitions in a highly fragmented market as it delivers business solutions on its carrier-grade network and Only in the Cloud™. For more information, please visit www.digerati-inc.com and follow DTGI on LinkedIn, Twitter, and Facebook.

Forward-Looking Statements

This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the applicable securities laws. Forward-looking statements generally are accompanied by words such as “confident,” “accomplish,” “enhance,” “ability,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements like ‘we are confident his contribution will enhance our ability to deliver on our corporate goals and assist us with creating long-term shareholder value,’ are not intended to serve as and must not be relied on by any investor or other person as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Digerati. These forward-looking statements are subject to a number of risks and uncertainties, including but not limited to general economic, financial, legal, political and business conditions and changes in domestic and foreign markets.

Facebook: Digerati Technologies, Inc.
Twitter: @DIGERATI_IR
LinkedIn: Digerati Technologies, Inc.

Investors
ClearThink
Brian Loper
bloper@clearthink.capital
(347) 413-4234

Release – Tier-1 MNO Awards Multimillion-Dollar Award to Comtech for Large Messaging Contract

Posted on by aweinsoff@channelchek.com

Research News and Market Data on CMTL

MELVILLE, N.Y.–(BUSINESS WIRE)–Oct. 3, 2022– October 3, 2022– Comtech (NASDAQ: CMTL), announced today that it has been awarded a contract for over $30 million with a multinational data networking and telecommunications equipment company for their text messaging platform.

As a pioneer in the SMS industry providing messaging solutions globally since 1996, Comtech has deep experience with its customers’ networks, use cases, and messaging features. Comtech’s messaging solutions have 99.999% reliability, minimize costs to customers and increase end-user loyalty and satisfaction.

“We have been working with this customer of over 20 years to supply reliable text messaging services. In 2019, we started working on migration of our in-network messaging application to a cloud-native, architecture-based messaging platform,” said Jay F. Whitehurst, President of Comtech Trusted Location. “We are pleased to announce that we have entered into a global licensing agreement with our partner and have inked a multi-year deal to provide a containerized messaging platform to a major tier-1 US-based mobile network operator.”

Comtech’s containerized Short Messaging Service Center (cSMSC) is a highly reliable, multi-protocol SMS delivery cloud-native platform that enables common use cases including person-to-person text messaging, application-to-person, machine-to-machine/Internet of Things (IoT), and various other advanced applications in legacy 4G and 5G networks. Comtech’s cSMSC solution is a containerized architecture-based messaging application, which complies with various worldwide telecommunications standards, Network Functions Virtualization (NFV), as well as Management and Orchestration (MANO) Requirements. The cSMSC will be deployed as a Containerized Network Function (CNF).

“At Comtech, I aim to combine our terrestrial and wireless expertise with our space and satellite technologies to exploit emerging opportunities arising from the convergence of communications infrastructure. I believe the need for constant connectivity will create ongoing demand to blend terrestrial, wireless, and satellite networks. This convergence of terrestrial and satellite communications networks will truly enable IoT connectivity on a global scale and aligns exceptionally well with Comtech’s core technologies. The launch of the cSMSC is an important step towards delivering on that roadmap,” said Ken Peterman, Comtech’s Chairman, President and CEO.

About Comtech

Comtech Telecommunications Corp. is a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies to commercial and government customers around the world. Headquartered in Melville, New York and with a passion for customer success, Comtech designs, produces and markets advanced and secure wireless solutions. For more information, please visit www.comtech.com.

Forward-Looking Statements

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings.

PCMTL

Investor Relations
Robert Samuels
631-962-7102
robert.samuels@comtech.com

Source: Comtech Telecommunications Corp.

Release – Comtech Awarded Foreign Military Sales Contract to support Ukraine’s War Efforts

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on CMTL

Troposcatter equipment to enhance Ukrainian Special Forces Ability to Communicate

MELVILLE, N.Y.–(BUSINESS WIRE)–Sep. 21, 2022– September 21, 2022–Comtech (NASDAQ: CMTL) announced today that the Company has been awarded a Foreign Military Sales (FMS) Contract for the Ukrainian Government. The FMS contract is for beyond line-of-sight communications terminals and upgrades to the country’s existing systems. In March, Comtech donated identical systems to those now being purchased to the international effort to support the defense of Ukraine at the request of the Ukrainian government. These systems were requested by Ukrainian Special Forces to enhance their ability to rapidly deploy secure, resilient communication channels in contested environments.

Comtech has supported multiple communications upgrades and modernization initiatives for the Ukrainian Ministry of Defense since 2017. As a result, Comtech is well placed to provide systems that were previously certified for use by the Ukrainian military and can be fielded with training provided by Comtech and current operators. Comtech’s market-leading solutions coupled with our ability to speed deployment of these critical support capabilities made the Company the obvious choice for a contract award.

“Comtech’s Troposcatter Family of Systems (FOS) provides U.S. and International customers the benefit of transporting secure, resilient high-capacity IP data communications to the tactical edge,” said Doug Houston, President of Comtech Systems, Inc.

The Company’s feature-rich terminals can easily be linked with other Comtech tactical, mobile, and fixed systems to provide a robust, comprehensive Beyond Line-of-Sight communications solution that can be used to enhance the Ukrainian Military’s existing communications capabilities. Comtech’s solutions are ideal for Tactical Military, Disaster Recovery, and Emergency Communications Restoration applications anywhere in the world.

“Global militaries have relied on our Comtech Systems division to consistently provide robust communications solutions globally for over forty years and our new state-of-the-art radio-modem technology is a game changer in the marketplace,” said Comtech’s Chairman, President, and CEO Ken Peterman.

About Comtech

Comtech Telecommunications Corp. is a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies to commercial and government customers around the world. Headquartered in Melville, New York and with a passion for customer success, Comtech designs, produces and markets advanced and secure wireless solutions. For more information, please visit www.comtech.com.

Forward-Looking Statements

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings.

PCMTL

Investor Relations
Robert Samuels
631-962-7102
robert.samuels@comtech.com

Release – Comtech to Report Fourth Quarter Fiscal 2022 Results on September 29th

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on CMTL

MELVILLE, N.Y.–(BUSINESS WIRE)–Sep. 19, 2022– September 19, 2022–Comtech (NASDAQ: CMTL), a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies, today announced that it will report its fourth quarter of fiscal 2022 results after the market closes on Thursday, September 29, 2022.

The Company has scheduled an investor conference call for Thursday, September 29, 2022 at 4:30 PM ET. Investors are invited to access a live webcast of the conference call from the investor relations section of the Comtech web site at www.comtech.com. Alternatively, investors can access the conference call by dialing (800) 225-9448 (domestic) or (203) 518-9708 (international) and using the conference I.D. of “Comtech.” A replay of the conference call will be available for seven days by dialing (800) 839-0861 or (402) 220-0661.

About Comtech

Comtech Telecommunications Corp. is a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies to commercial and government customers around the world. Headquartered in Melville, New York and with a passion for customer success, Comtech designs, produces and markets advanced and secure wireless solutions. For more information, please visit www.comtech.com.

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings.

PCMTL

Comtech Investor Relations
Robert Samuels
631-962-7102
robert.samuels@comtech.com

Source: Comtech Telecommunications Corp.

Release – Comtech Awarded London Police Service Next Generation 9-1-1 Contract

Posted on by aweinsoff@channelchek.com

Research, News, and Market Data on CMTL

MELVILLE, N.Y.–(BUSINESS WIRE)–Sep. 15, 2022– September 15, 2022– Comtech (NASDAQ: CMTL) announced today that Comtech Solacom Technologies, Inc., a division of the Company’s 9-1-1 Public Safety and Security segment, was recently awarded a Next Generation 9-1-1 (“NG9-1-1”) services contract to provide its Guardian call management solution to the London Police Services. The London Police Service is Comtech Solacom’s latest customer in the Southern Ontario region, joining the Toronto Paramedic and Toronto Police Services, which also recently awarded contracts to Comtech Solacom. The new system award includes multiple years of support and comprehensive cybersecurity protection.

The public safety answering point (“PSAP”) will receive a geo-diverse, redundant NG9-1-1 Guardian Call Management solution fully equipped with Guardian Intelligent Workstations (“IWS”). IWS’ are powerful emergency call taking positions designed to maximize call management effectiveness. The intuitive user interface allows call takers to quickly assess, prioritize and handle landline, wireless and VoIP calls. Call takers can quickly create multi-party conferences, transfer calls, determine the location of callers and play back recently recorded conversations. The Guardian IWS is also engineered to be future proof so that next generation capabilities such as real-time text (RTT), exchanging video, images and data with specially trained staff can be supported once they become available to the public. In addition, the system is designed according to industry standards and the Canadian Radio-Television and Telecommunication (“CRTC”) Next Generation 9-1-1 directives.

“We were impressed with many of the advanced, next generation features inherent to the Guardian call management platform including Mapping and Text-from-911,” said Stu Betts, Deputy Chief of the London Police Service. “The added service of safeguarding our network from cyberattacks was imperative and Comtech Solacom understood that need and offered us a solution that met our exact requirements.”

“We’re pleased to be partnering with the London Police Services Board as we deploy a complete, turnkey next generation Guardian call management solution to the London Police Service,” said Ken Peterman, President and CEO of Comtech. “With their new Guardian solution, the London Police Service will be able to modernize current 911 operations, improve public safety services and get piece of mind knowing they’re protected from potential cybersecurity threats.”

About Comtech

Comtech Telecommunications Corp. is a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies to commercial and government customers around the world. Headquartered in Melville, New York and with a passion for customer success, Comtech designs, produces and markets advanced and secure wireless solutions. For more information, please visit www.comtech.com.

Forward-Looking Statements

Certain information in this press release contains statements that are forward-looking in nature and involve certain significant risks and uncertainties. Actual results could differ materially from such forward-looking information. The Company’s Securities and Exchange Commission filings identify many such risks and uncertainties. Any forward-looking information in this press release is qualified in its entirety by the risks and uncertainties described in such Securities and Exchange Commission filings.

PCMTL

Investor Relations
Robert Samuels
631-962-7102
robert.samuels@comtech.com

Source: Comtech Telecommunications Corp.

Release – Digerati Technologies to List on NASDAQ via Business Combination with Minority Equality Opportunities Acquisition Inc.

Posted on by cpatches

Research, News, and Market Data on DTGI

Transaction Results in $105 Million Enterprise Valuation for Digerati Technologies

SAN ANTONIO, TX (GlobeNewswire) – September 6, 2022 – Digerati Technologies, Inc. (OTCQB: DTGI) (“Digerati” or the “Company”), a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the small to medium-sized business (“SMB”) market, is pleased to announce its signing of a definitive business combination agreement with Minority Equality Opportunities Acquisition Inc. (NASDAQ: MEOA) (“MEOA”), which is the first Minority led special purpose acquisition company to list on NASDAQ with the mission of executing a business combination with a minority owned, led or founded business.

Highlights of the transaction include:

  • Transaction to result in Digerati becoming a listed company on NASDAQ and delisting from OTC Market.
  • Combined company to have an initial equity value of approximately $228 million translating into an enterprise value of approximately $145 million, assuming no redemptions by MEOA stockholders.
  • MEOA currently has approximately $129.9 million cash in trust as of September 2, 2022. 
  • New capital and being a NASDAQ listed company is expected to provide Digerati with flexibility for additional strategic and accretive acquisitions in the UCaaS sector.
  • The current Digerati management team will continue to operate the business.
  • The current Digerati Board of Directors will remain with one additional director to be appointed by the Company and Shawn D. Rochester, CEO of MEOA, joining the Company’s Board of Directors at the closing of the transaction.
  • All existing Digerati shareholders will receive 100% of their equity in the pro forma company.

Arthur L. Smith, Chief Executive Officer of Digerati, stated, “This business combination that results in a NASDAQ listing for our Company positions us for continued growth in a rapidly expanding and highly-fragmented market. We believe being a NASDAQ listed company, along with our financial partnership with Post Road Group, will facilitate acceleration of our M&A strategy in a market with a healthy pipeline of acquisition candidates. This transaction will also contribute to organic growth as we continue providing small to medium-sized businesses with robust solutions and superior customer service tailored for this market segment. We believe this is an ideal transaction for current Digerati shareholders since it avoids a reverse stock split that is customary under a re-IPO event associated with an uplist to NASDAQ or NYSE.”

Shawn Rochester, Chairman and Chief Executive Officer of MEOA, said, “Digerati is well-positioned as an emerging provider of UCaaS solutions to the small and medium-sized business market. The proposed merger with MEOA capitalizes Digerati and, with improved access to capital, enables the Company to continue with its organic growth and acquisition strategy. The Digerati team has demonstrated operational and M&A expertise over the past few years and this transaction will better equip them to continue on their acquisitive path of increasing shareholder value. This proposed merger is also consistent with MEOA’s mission, vision and purpose because (1) in addition to its operational and M&A expertise, Digerati is a minority founded and led business with a very diverse management team (with its CEO, CFO and EVP being of Hispanic ethnicity) and an employee base that is almost 50% minority, (2) it also provides access to capital at scale to help unleash transformative growth for a minority led and founded business that has assembled a great management team, developed great products and solutions, and staked out a strong competitive position in the marketplace, and (3) Digerati’s UCaaS platform has the ability to help empower to over 20 million small businesses in America that are run by minorities and women through its first-class suite of communication products.”

Transaction Overview

The combined company is expected to have a total pro forma equity value of approximately $228 million translating into an enterprise value of approximately $145 million, with the proposed business combination to provide access to capital of up to approximately $121 million from the cash held in trust by MEOA, assuming no redemptions from MEOA stockholders. All references to available cash from the trust account and retained transaction proceeds are subject to any redemptions by the public stockholders of MEOA and payment of transaction fees and expenses. As part of the transaction, all Digerati shares owned by Digerati’s existing equity holders will be converted to common stock of the pro forma company.

The transaction, which has been approved by the Boards of Directors of both of Digerati and MEOA, is expected to close in the fourth quarter of CY 2022. The transaction remains subject to NASDAQ approving MEOA’s initial listing application in connection with the merger, approval by both MEOA and Digerati shareholders, as well as other customary closing conditions.

Additional information about the proposed transaction, including a copy of the business combination agreement, will be provided in a Current Report on Form 8-K to be filed by both Digerati and MEOA with the Securities and Exchange Commission (the “SEC”).

Advisors

Maxim Group LLC acted as financial advisor and Lucosky Brookman LLP acted as legal counsel to Digerati in connection with the transaction. PGP Capital Advisors, LLC and Vaughan Capital Advisors, LLC acted as financial advisors to MEOA, and Pryor Cashman LLP acted as legal counsel for MEOA.

About Minority Equality Opportunities Acquisition Inc.

Minority Equality Opportunities Acquisition Inc. is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, organized under the laws of the Delaware and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with companies that are minority owned, led or founded.

About Digerati Technologies, Inc.

Digerati Technologies, Inc. (OTCQB: DTGI) is a provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the business market. Through its operating subsidiaries NextLevel Internet (NextLevelinternet.com), T3 Communications (T3com.com), Nexogy (Nexogy.com), and SkyNet Telecom (Skynettelecom.net), the Company is meeting the global needs of small businesses seeking simple, flexible, reliable, and cost-effective communication and network solutions including, cloud PBX, cloud telephony, cloud WAN, cloud call center, cloud mobile, and the delivery of digital oxygen on its broadband network. The Company has developed a robust integration platform to fuel mergers and acquisitions in a highly fragmented market as it delivers business solutions on its carrier-grade network and Only in the Cloud™. For more information, please visit www.digerati-inc.com and follow DTGI on LinkedIn, Twitter and Facebook.

INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

No Offer or Solicitation

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Important Information and Where to Find It

This press release is being made in respect of the proposed business combination transaction involving MEOA and Digerati. The parties intend to file a registration statement on Form S-4 (or such other form as they might determine to be applicable) with the SEC, which will include a proxy statement for MEOA and Digerati shareholders and which will also serve as a prospectus related to offers and sales of the securities of the combined entity. MEOA will also file other documents regarding the proposed transaction with the SEC. A definitive proxy statement/prospectus will also be sent to the stockholders of MEOA and Digerati, seeking required stockholder approval. Before making any voting or investment decision, investors and security holders of MEOA and Digerati are urged to carefully read the entire registration statement and proxy statement/prospectus, when they become available, and any other relevant documents filed with the SEC, as well as any amendments or supplements to these documents, because they will contain important information about the proposed transaction. The documents filed with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov. 

In addition, the documents filed with the SEC may be obtained free of charge from MEOA’s website at https://www.meoaus.com and from Digerati’s website at https://digerati-inc.com.

Participants in the Solicitation

MEOA, Digerati and certain of their respective Directors and Executive Officers may be deemed to be participants in the solicitation of proxies from stockholders, in favor of the approval of the merger. Information regarding MEOA’s and Digerati’s Directors and Executive Officers and other persons who may be deemed participants in the solicitation may be obtained by reading the registration statement and the proxy statement/prospectus and other relevant documents filed with the SEC when they become available. Free copies of these documents may be obtained as described above.

Forward-Looking Statements

This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the applicable securities laws. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. 

These forward-looking statements include, but are not limited to, statements regarding the terms and conditions of the proposed business combination and related transactions disclosed herein, the timing of the consummation of such transactions, assumptions regarding shareholder redemptions and the anticipated benefits and financial position of the parties resulting therefrom. These statements are based on various assumptions and/or on the current expectations of MEOA or Digerati’s management. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor or other person as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of MEOA and/or Digerati. These forward-looking statements are subject to a number of risks and uncertainties, including but not limited to general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the amount of redemption requests made by MEOA’s public shareholders; NASDAQ’s approval of MEOA’s initial listing application; changes in the assumptions underlying Digerati’s expectations regarding its future business; the effects of competition on Digerati’s future business; and the outcome of judicial proceedings to which Digerati is, or may become a party.

If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Digerati and MEOA presently do not know or currently believe are immaterial that could also cause actual results to differ materially from those contained in the forward-looking statements. In addition, forward-looking statements reflect expectations, assumptions, plans or forecasts of future events and views as of the date of this press release. Digerati and MEOA anticipate that subsequent events and developments will cause these assessments to change. However, while Digerati and/or MEOA may elect to update these forward-looking statements at some point in the future, each of Digerati and MEOA specifically disclaims any obligation to do so, except as required by applicable law. These forward-looking statements should not be relied upon as representing Digerati’s or MEOA (or their respective affiliates’) assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

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Brian Loper

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