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Aviat raises bid for Ceragon

ROSH HA'AIN, Israel – Ceragon Networks Ltd. (NASDAQ: CRNT) ("Ceragon" or the "Company"), the global innovator and leading solutions provider of 5G wireless transport, today confirmed that it has received a revised non-binding indication of interest from Aviat Networks, Inc. ("Aviat") to acquire all of the outstanding shares of Ceragon for $3.08 per share, consisting of $2.80 in cash and $0.28 in equity consideration of Aviat common stock (the "Revised IOI"), subject to certain conditions.

The Ceragon Board of Directors, consistent with its fiduciary duties and in consultation with its independent financial and legal advisors, will carefully review and evaluate the Revised IOI to determine the course of action it believes is in the best interest of the Company and its shareholders.

Evercore is serving as financial advisor and Shibolet & Co. and Latham & Watkins LLP are serving as legal advisors to Ceragon.

Ceragon Networks

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