Defence technology firm Cobham has completed the sale of its Analytic Solutions business for $350m in cash on a debt and cash free basis.
The group estimates that after costs it has generated a gain on sale including goodwill and other intangibles of approximately $20m.
In the six months ended 30 June 2011, the Analytics recorded revenue of $144.3m, EBITDA of US$14.9m and operating profit of US$13.8m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The sale to US firm Parsons Corporation will see a 5% dilution of Cobham's group earnings, the firm said in October.
Cobham said it was now looking for investment opportunities for the money it has made on the sale.
-
Do you qualify for the Winter Fuel Payment if you live abroad?The Winter Fuel Payment will be means tested for expats living in Europe, in line with the new rules impacting those in the UK. But a quirk in the system means not all countries are eligible.
-
What the Employment Rights Bill means for your jobNew workplace reforms are set to give employees new rights to benefits and flexible working
