Cobham acquires leading supplier of advanced bomb disposal robots for €78m

Cobham plc has acquired the share capital of Telerob GmbH, a privately-owned German-based manufacturer of advanced bomb disposal robots and threat response vehicles for EUR 78 million.

Telerob manufactures medium and heavy-weight Explosive Ordnance Device (EOD) robots and response vehicles designed to deal with nuclear, biological and chemical threats primarily for homeland security markets. The company has more than 700 systems in 55 countries, with many systems in operation in Asia and the Middle East where it has established itself as a market leader.

Cobham will be able to integrate its technology into Telerob systems, including communications equipment and sensors that it already provides for the EOD market along with specialist cameras manufactured by another recently acquired company, RVision. This will enable the Group to develop more distinctive and competitive systems, as well as increasing the value to Cobham of each system sold.

Telerob employs 80 staff, half of whom are engaged in R&D, and its skills base and technology are highly complementary to Cobham's. The company will become part of Cobham's Mission Equipment business unit and will significantly strengthen the Group's ability to deliver market-leading robot products to fast-growing homeland security markets around the world. Cobham Mission Equipment has more than 20 years' experience working on unmanned, remote systems, from the Phoenix UAV to the latest generation of autonomous air-to-air refuelling systems.

The acquisition is being funded from Cobham's existing cash resources. The consideration comprises EUR 75 million payable in cash on completion on a debt and cash free basis, and a seller's note from certain shareholders of EUR 3 million which will be repayable in installments on the first, second and third anniversary of completion.

Cobham has acquired two businesses in the US and Europe worth a total of US$150m in the past month, both serving homeland security markets, with complementary technologies and routes to market.

Andy Stevens, Cobham Chief Executive Officer, said: "Telerob brings distinctive Explosive Ordnance Device technology and international routes to market that are highly complementary to ours. This acquisition will enable us to enhance the product range we can offer to homeland security markets."

Source: Cobham

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