28th Aug 2007 09:00
Cobham PLC28 August 2007 #21928 August 2007 COBHAM COMPLETES PURCHASE OF PATRIOT ANTENNA SYSTEMS IN THE USA FOR UP TO $45M Cobham plc ('Cobham') announces that it has now completed the purchase,originally announced on 30 May 2007, of the assets of Patriot Antenna Systems('Patriot') for an initial cash consideration of $18m on a debt and cash freebasis. Additional consideration of up to $27m will be payable, contingent onfuture performance. The completion of the acquisition follows the obtaining ofoutstanding environmental clearances. Based in Michigan, USA and employing approximately 100 people, Patriot designsand manufactures parabolic antennas, utilising its patented dual skintechnology, and a range of specialist Radio Frequency (RF) equipment. Theantennas range from very large 12 metre antennas for deep space communicationsto military and civilian satellite communication antennas. Patriot also designsand manufactures innovative satellite communication products, focused on themedium and large antennas market, including high accuracy positioning systems,portable and flyway antenna systems as well as die cast microwave feedcomponents. The acquisition of Patriot provides a product, technology and capability setthat can be exploited across Cobham's antennas business, particularly in thegrowing US government and military Satellite On The Move markets. - ends- ENQUIRIES Cobham plcAllan Cook, Chief Executive +44 (0)1202 882020Warren Tucker, Group Financial Director +44 (0)1202 882020Julian Wais, Director of Investor Relations +44 (0)1202 857998 Weber Shandwick FinancialSusan Ellis/Louise Robson +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 has five technology divisions and one in the service sector that collectively specialise 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 Antennas - With facilities on three continents Cobham Antennas designs and manufactures off-the-shelf and custom state-of-the-art antenna components and sub-systems that accommodate frequencies from 2 MHz to 60 GHz. Designs include space-saving single band, multi-band and combination antennas to meet communication requirements for aviation, space, vehicular, watercraft and ground-based systems for military and civil applications worldwide. The antenna products are complemented by a range of RF and digital applications including miniature interference cancellation (mINCAN), direction finding products and systems that meet the increasing demand for communications on the move. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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