LONDON Cobham plc (Wimborne, England) has agreed to purchase the surveillance and attack business unit of BAE Systems Inc for $240 million. The acquisition is expected to complete in the first quarter of 2008, subject to regulatory approval and the division, which is based in Lansdale, Pennsylvania, will be renamed Sensor and Antenna Systems, Lansdale Inc.
For the year ended Dec 31 2006, the business generated operating profits of $14 million on revenue of $91 million and on Sept 30 2007, gross assets were approximately $34 million.
The company develops electronic warfare (EW) technology for use in military aircraft. The equipment is used primarily for stand-off radar and communication jamming and also self-protection radar warning on US Military aircraft. Products include high power transmitters, antennas, integrated microwave assemblies, control electronics and subsystems.It employs approximately 400 people, including some 90 engineers.
The acquisition is complementary to the existing Cobham Defence Electronic Systems (CDES) U.S. microwave business, bringing additional subsystem product and design resource. CDES designs and manufactures microwave components, integrated assemblies and sub-systems.
Cobham says the monolithic microwave integrated circuit technology and antenna expertise existing within CDES, particularly within the REMEC defense and space business, is complementary and will benefit Lansdale and provide new opportunities for growth in this area.