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Comtech Receives Unsolicited Offer From Acacia Research

Acacia Research Corp. (Nasdaq: ACTG) has made an unsolicited offer to acquire wireless communications equipment provider Comtech Telecommunications (Nasdaq: CMTL).

Melville, New York-based Comtech said its board of directors is working with the company’s independent advisers to evaluate the non-binding takeover proposal.

Goldman Sachs serves as the communications technology vendor’s exclusive financial adviser on the offer evaluation while Proskauer Rose and Sidley Austin act as its legal advisers.

Acacia Research is headquartered in Irvine, California, and seeks to purchase businesses within the technology, life sciences and financial services industries.

Comtech confirmed receipt of Acacia’s proposal two weeks after the former received a $100 million investment from White Hat Capital Partners and Magnetar Capital.

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