$179 million of bookings in 1H'22 driven by the continued rollout of 5G across the globe
#1 global provider of best-of-breed solutions, now with 25% market share
We are demonstrating continued momentum across a variety of key financial metrics in growing market share, revenue and margins, including: Last week, Ceragon announced its second quarter financial results. We urge shareholders to protect their investment by voting only on the WHITE proxy card AGAINST Aviat's attempt to take control of the Board and ignoring Aviat's gold proxy card.Ĭeragon Has Strong Business Momentum that We Expect Will Create Shareholder Value They are attempting to replace our highly qualified directors with their unqualified, hand-picked nominees to take control of the Board and be entrusted with leading negotiations on your behalf for a potential transaction with Aviat. It also does not take into account the Company's strong business momentum, as reflected in our growing backlog, market share gains and gross margin enhancement.Īviat has launched its proxy campaign to advance its low-ball, highly conditional bid. However, Aviat's Revised IOI continues to fall far short.Īviat's slightly improved Revised IOI continues to significantly undervalue the Company on a variety of financial metrics - its implied multiples are below precedent transaction and public company trading multiples, and the indicative price is well below every research analyst price target. We have met with Aviat multiple times (including with directors from our respective boards) to explore a transaction. To be clear, Ceragon is focused on maximizing value for all shareholders and we remain open to exploring a transaction with Aviat or anyone else, but only if such combination delivers full, fair and certain value to Ceragon shareholders. After a careful and thorough review, conducted in consultation with our independent financial and legal advisors, the Board unanimously concluded that Aviat's Revised IOI continues to significantly undervalue the Company and is not in the best interests of Ceragon shareholders. ("Aviat"), to acquire Ceragon at a price of $3.08 per share. A few days ago, Ceragon received a revised indication of interest ("Revised IOI") from its competitor, Aviat Networks, Inc.
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