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Cobham announces $26m deal
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21/08/2008
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UK aerospace and defence contractor Cobham plc has reached agreement to acquire US competitor GMS from The Allied Defense Group, Inc. for $26 million cash.
The acquisition is expected to complete before the end of the year. GMS, which employs 50 people, is based in Carlsbad, California and will become part of the Cobham Avionics and Surveillance Division.
GMS designs and manufactures digital equipment which is used in a variety of applications and is sold primarily into US law enforcement and national security and defence markets, together with the broadcast market. Products include video surveillance systems and high definition wireless video technologies suitable for both standard law enforcement and mission critical communications applications. Its defence related products have applications on unmanned aerial and ground vehicles.
Cobham said GMS was an excellent technological fit with its existing business, offering complementary products and capabilities which presented opportunities for synergistic growth. It provides Cobham with access to a wider customer base and creates a physical presence on the west coast of the USA for its intelligence and surveillance business. On completion, the business will operate under the existing Cobham Surveillance Special Security Arrangement.
Allan Cook, Cobham Chief Executive, said: “The acquisition of GMS adds proven engineering capability, complementary technologies and exciting opportunities for accelerating growth in the wider homeland security market through our law enforcement and national security business. This will strengthen our position in this rapidly growing market.”
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Author
Ken Hurst
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