Electronics Production |
Cobham to acquire GMS
Cobham has reached agreement to acquire the trade and net assets of GMS from The Allied Defense Group for a cash consideration of $26 million on a debt and cash free basis, payable on completion.
The acquisition of GMS is expected to complete before the end of 2008 subject to customary closing conditions and approval from the Committee on Foreign Investment in the United States. GMS, which employs 50 people, is based in Carlsbad, California and will become part of the Cobham Avionics and Surveillance Division.
GMS designs and manufactures digital equipment which is used in a variety of applications and is sold primarily into US law enforcement and national security and defence markets, together with the broadcast market. GMS products include video surveillance systems and high definition wireless video technologies suitable for both standard law enforcement and mission critical communications applications. Its defence related products have applications on unmanned aerial and ground vehicles.
