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Cobham to buy GMS for $26m in cash

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Date: Wednesday 20 Aug 2008

LONDON (ShareCast) - Aerospace and defence firm Cobham said it will acquire the trade and net assets of GMS from The Allied Defense Group for $26m in cash.

Cobham is expected to complete the acquisition of GMS, which designs and makes digital equipment, before the end of 2008, the group said in Wednesday's company statement.

GMS makes products such as video surveillance systems and high definition wireless video technologies.

Commenting on the deal, Cobham chief executive Allan Cook 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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