Comarco Inc., a company that provides engineering consulting and products for the cellular telephone business, said Monday that it has broken off merger discussions with CACI International, a computer software company in Arlington, Va.
The decision was made Friday by Comarco’s board of directors after a review, said Eva Evans, vice president of the Anaheim-based company. She said no further reason was given.
Comarco President Don M. Bailey said in a statement that his company has $11 million in cash and no bank debt. It is pursuing new acquisitions, bidding on government contracts, repurchasing stock and developing its cellular telephone products, he said.
In Monday’s NASDAQ trading, Comarco’s stock closed unchanged at $4.67 a share.