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.
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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."
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