Cohort to acquire EID

EID is a high-tech company with more than 30 years’ experience in the design, manufacture and support of advanced, high performance command, control and communications equipment for the global defence and security market. Customers for its naval communications systems include the Royal Navy and other NATO navies including those of Portugal, the Netherlands, Spain and Belgium. It has also supplied a number of other export customers; in total its products equip over 120 warships worldwide, and its army products have also enjoyed wide domestic and export success.

Cohort’s Board believes that further investment in carefully targeted acquisitions will generate enhanced returns to shareholders. The Group seeks to acquire innovative businesses operating in the defence and security sectors with growth potential and a degree of sustainable competitive advantage. EID meets all of these criteria.

Andrew Thomis, Chief Executive, Cohort, said: “The acquisition of EID is an important step for Cohort. It adds to the Group a highly capable provider of communications systems that has demonstrated the quality of its products through export success in a number of important territories.

“EID has a strong order book and excellent prospects with both domestic and export customers. As Cohort’s first non-UK company it brings us a new domestic market, and the opportunity to offer all of the enlarged Group’s products and services to the existing customers of both EID and Cohort. I am looking forward to working with EID’s management team to realise the exciting growth opportunities that this transaction will create.”