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Satellite equipment maker COM DEV in advanced sale talks -sources

Published 2015-10-07, 09:40 a/m
Satellite equipment maker COM DEV in advanced sale talks -sources
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By Mike Stone
Oct 7 (Reuters) - COM DEV International Ltd CDV.TO , a
Canadian company that has made equipment for more than 80
percent of all commercial communications satellites ever
launched, is in advanced talks to sell itself, according to
people familiar with the matter.
COM DEV, which has a market capitalization of C$344 million
($264 million), is working with investment bank Canaccord
Genuity Group Inc CF.TO on an auction process that is in its
final stages, the people said this week.
Comtech Telecommunications Corp CMTL.O , Honeywell
International Inc HON.N , L-3 Communications Holdings Inc (NYSE:LLL)
LLL.N and Thales SA TCFP.PA are among the companies that
were approached by COM DEV about a potential deal, the people
added.
The sources asked not to be identified because the sale
process is confidential. COM DEV, Canaccord, Comtech, Honeywell,
L-3 and Thales did not immediately respond to requests for
comment.
Based in Cambridge, Ontario, COM DEV designs and
manufactures technology equipment sold to major spacecraft
builders for use in communications, space science and remote
sensing. It has facilities in Canada, Britain, the United
States, India and China.
COM DEV's majority-owned subsidiary, exactEarth Ltd,
provides satellite data services for global maritime
surveillance. Last summer COM DEV postponed an initial public
offering of exactEarth citing challenging conditions in the
capital markets.

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