Cobham plc announced that it has agreed to acquire US-based Trivec-Avant Corp., a leading global supplier of sophisticated UHF satellite communication (SATCOM) antenna systems.
Trivec’s SATCOM technology, product range and customer base are highly complementary to Cobham’s Antenna Systems' strategic business unit. The acquisition is in line with Cobham’s strategy to build scale in its target markets and deepen its investment in highly differentiated technology.
Cobham will acquire the entire share capital of privately owned Trivec for a cash consideration of $126 M, payable on completion, on a debt and cash free basis. An additional cash consideration of up to $18 M is payable between 2013 and 2014, contingent on future performance. Subject to regulatory approvals, the acquisition is expected to complete during the fourth quarter of 2011.