7th Apr 2008 09:00
Cobham PLC07 April 2008 7 April 2008 COBHAM ACQUIRES MMI RESEARCH FOR UP TO £16.6 MILLION Cobham plc ('Cobham') is pleased to announce that it has completed theacquisition of MMI Research ('MMI'), a privately owned company based inHampshire, UK for £13.6 million payable on completion on a debt and cash freebasis, comprising cash of £12.2 million and loan notes of £1.4 million.Additional cash consideration of up to £3.0 million is payable by 2010,contingent on future performance. MMI employs 20 people and will become part ofthe Cobham Avionics and Surveillance Division. MMI is a leading technology company in the Law Enforcement and National Security(LENS) markets providing specialist cellular telecommunications capabilities tolaw enforcement, military and intelligence agency customers world-wide. It is anexcellent technological fit with Cobham's existing LENS capabilities andprovides equipment to a number of Cobham's existing customers as well asbroadening the customer base. Allan Cook, Cobham Chief Executive, said: "We are very pleased to have MMI join the Cobham team with its distinctivetechnologies and specialist customer base. The combination of MMI'scomplementary technologies and Cobham's scale and market reach will strengthenour capabilities in the growing surveillance market." - ends - ENQUIRIES Cobham plcAllan Cook, Chief Executive +44 (0)1202 882020Warren Tucker, Chief Financial Officer +44 (0)1202 882020Julian Wais, Director of Investor Relations +44 (0)7720 999764 Weber Shandwick FinancialSusan Ellis/James White +44 (0)20 7067 0700 NOTES 1. Cobham plc is an international company engaged in the development, delivery and support of advanced aerospace and defence systems for land, sea and air platforms. The Company specialises in the provision of components, subsystems and services that keep people safe, improve communications and enhance the performance of aerospace and defence platforms. 2. Cobham Avionics and Surveillance Division designs, qualifies, manufactures, certifies and supports a complete range of electronic products for airborne, marine, land and special purpose applications. The division serves four principal markets: Avionics, Law Enforcement & National Security, SATCOM and France. Included in the product base are fully certified Electronic Flight Instrument Systems with complete cockpit communication/navigation and sensor capability, COSPAS/SARSAT certified marine, air and land Search and Rescue devices and state-of-the-art law enforcement tracking, monitoring and surveillance equipment. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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