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Cobham expands into US
UK aerospace and defence systems manufacturer Cobham has unveiled its plans to buy US-based GMS, its fifth acquisition so far this year.
The California intelligence and surveillance business is set to be bought from the Allied Defense Group for $26 million (£14 million) funded from Cobham’s balance sheet and debt.
GMS designs and manufactures digital equipment, serving the US law enforcement, national security and defence markets. Their products include video surveillance systems and high definition wireless video technologies.
This year Cobham has spent $1.1 billion on a string of acquisitions in the US, where it now earns around half its revenues.
Allan Cook, chief executive of Cobham, 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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