Satnews Daily
September 8th, 2010

Comtech Telecommunications + CPI Int'l... The Merger Is Off!

Comtech Telecommunications Corp. (Nasdaq:CMTL) and CPI International, Inc. (Nasdaq:CPII) have announced that, effective as of September 7, 2010, they have terminated the Agreement and Plan of Merger, dated May 8, 2010, among Comtech, Angels Acquisition Corp., a wholly owned subsidiary of Comtech, and CPI. The termination was by mutual agreement of the companies and was unanimously approved by the boards of directors of both Comtech and CPI. As part of the termination, Comtech has received a termination fee of $15.0 million from CPI, and Comtech and CPI exchanged mutual general releases. Comtech and CPI will remain independent, publicly-held companies.