Cobham Completes the Acquisition of US Trivec-Avant

Further to the announcement of 15 September 2011, Cobham plc ('Cobham') has completed the acquisition of US based Trivec-Avant Corporation ('Trivec') for a cash consideration of US$126 million on a debt and cash free basis. An additional cash consideration of up to US$18 million is payable between 2013 and 2014, contingent on future performance. It is expected that the acquisition will be immediately earnings enhancing and will cover its cost of capital in the first year of ownership. Trivec has industry leading expertise in the field of Satellite Communication (SATCOM) antennas for communications on the move, including next generation network-centric warfare. It specialises in ultra high frequency (UHF) SATCOM and steerable technologies for low to horizon communication in adverse terrain and in demanding military and emergency response missions. Its products and customer relationships are highly complementary to Cobham's Antenna Systems business, part of the Aerospace and Security Division. The acquisition is consistent with Cobham's strategic objectives of building scale in its markets and investing in highly differentiated technology.
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Source: Cobham Plc (LSE: COB.L)
Date: Nov 1, 2011