Cobham acquires Axell Wireless

Defence technology group Cobham has acquired Axell Wireless, a privately-owned supplier of wireless communications for commercial and public safety markets.

Defence technology group Cobham has acquired Axell Wireless, a privately-owned supplier of wireless communications for commercial and public safety markets.

The consideration was paid on a cash and debt free basis, with £60m paid upfront and a further £25m to be paid during 2014 and 2015 based on the future performance of the business.

Axell is a leading global provider of Distributed Antenna Systems (DAS) and wireless solutions for the public safety and cellular markets, with a specific focus on communication systems for buildings and critical infrastructure applications.

Cobham made the acquisition because it believes Axell presents "significant" opportunities to sell products to the respective customer bases of its existing Antenna Systems and Tactical Communications and Surveillance businesses and that it will provide larger system solutions for future customer requirements.

Axell's markets have been growing strongly, driven by rapidly increasing demand for indoor mobile data traffic and more stringent public safety regulations, which support the ability of emergency services to communicate within large buildings and at international events, Cobham said.

Axell has approximately 250 employees worldwide and is headquartered in Chesham, UK. It will become part of the Antenna Systems Strategic Business Unit, within Cobham's Aerospace and Security Division.

Cobham Chief Executive Officer, Bob Murphy said: "Axell operates in an exciting and growing global market, bringing complementary technology to our existing businesses. This transaction, following the acquisition of Thrane & Thrane in 2012, represents another step towards achieving our strategic objective of bringing more balance to our portfolio."

Recommended

Persimmon yields 12.3%, but can you trust the company to deliver?
Share tips

Persimmon yields 12.3%, but can you trust the company to deliver?

With a dividend yield of 12.3%, Persimmon looks like a highly attractive prospect for income investors. But that sort of yield can also indicate compa…
1 Jul 2022
Don’t try to time the bottom – start buying good companies now
Investment strategy

Don’t try to time the bottom – start buying good companies now

Markets are having a rough time, so you may be tempted to wait to try to call the bottom and pick up some bargains. But that would be a mistake, says …
1 Jul 2022
Share tips of the week – 1 July
Share tips

Share tips of the week – 1 July

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
1 Jul 2022
Bunzl: boring is good for business
Share tips

Bunzl: boring is good for business

Food-service distribution company Bunzl is not a terribly exciting business, but it looks cheap and could be a great investment, says Rupert Hargreave…
30 Jun 2022

Most Popular

UK house prices are definitely cooling off – but are they heading for a fall?
House prices

UK house prices are definitely cooling off – but are they heading for a fall?

UK house prices hit a fresh high in June, but as interest rates start to rise, the market is cooling John Stepek assesses just how much of an effect h…
30 Jun 2022
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves looks at the FTSE 100’s top yielding stocks for income investors to consider.
22 Jun 2022
The ten highest dividend yields on Aim
Income investing

The ten highest dividend yields on Aim

Rupert Hargreaves picks the highest-paying dividend stocks on Aim, London’s junior market for small and medium-sized growth companies.
29 Jun 2022