After announcing in July that it was exploring strategic alternatives, TeleCommunication Systems Inc. said Monday it has agreed to sell to Comtech Telecommunications Corp. in a transaction with an enterprise value of $430.8 million. Comtech will pay $5 per share, which represents a premium of 13.9% to Telecommunication Systems’ closing price of $4.39 on Nov. 20. The deal is expected to close by the end of March 2016. Annapolis, Maryland-based TeleCommunication Systems is a provider of C4ISR solutions and next generation emergency 911 services to cellular and voice over internet protocol providers. As The Deal’s Jaewon Kang notes, TeleCommunication Systems has been a target of activist investors.
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