Cobham Buys M/A-COM for $425M

http://www.defensenews.com/story.php?i=3525558&c=EUR&s=TOP

LONDON - British aerospace and defense company Cobham has taken its acquisition spending in the U.S. this year past the $1 billion mark with the announcement here that it is buying M/A-COM from Tyco Electronics for $425 million.

M/A-COM is a world leading radio frequency components and subsystems suppliers with revenues in the year to September 2007 totaling $477 million. Just under 40 percent of that is in the aerospace and defense sector.

Cobham said it intends to sell off the commercial sector of the business, as it is noncore. Based on the encouraging levels of interest expressed by other bidders during the Tyco auction of M/A-COM, it expects a quick sale of the business, it said.

The aerospace and defense portion of the business employs some 1,000, based principally in California and Massachusetts. Company supplied systems can currently be found on the Joint Strike Fighter, Advanced Medium-Range Air-to-Air Missiles and Integrated Defense Electronic Countermeasures...