29th January 2016
Cohort plc
("Cohort" or "the Group")
Update on acquision of Portuguese defence business
Further to the update set out in our half year results announcement on 14 December 2015, Cohort plc announces that the acquisition of EID remains on course and, following notification from the Portuguese competition authority that they are reviewing the transaction, we expect to receive competition approval and complete the acquisition of 57% of EID by the end of February 2016.
Ends
For further information please contact:
Cohort plc |
0118 909 0390 |
Andy Thomis, Chief Executive |
|
Simon Walther, Finance Director |
|
Investec Bank plc |
020 7597 5970 |
Keith Anderson / Daniel Adams |
|
MHP Communications Limited |
020 3128 8100 |
Reg Hoare / Jamie Ricketts / Ollie Hoare |
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NOTES TO EDITORS
Cohort plc
Cohort is an independent technology group working primarily for defence (air, land and sea), wider government and industry clients, through four market-facing subsidiary companies:
MASS - a specialist systems house with considerable experience in the defence market and a focus on electronic warfare operational support and secure information systems. Based in Cambridgeshire, MASS was acquired by Cohort in August 2006;
MCL - an expert in sourcing, design and integration of electronic and surveillance technology, as well as field support and training for a range of specialist UK end users including the MOD and other governmental agencies. Based in Surrey, MCL has been part of the Group since July 2014;
SCS - a defence technical advisory business, combining technical expertise with practical experience and domain knowledge. Owned by Cohort since flotation in March 2006;
SEA - an advanced surveillance systems and software house with hardware development capability operating in the defence, transport and offshore energy market sectors. Acquired by Cohort in October 2007.
Cohort was admitted to London's Alternative Investment Market in March 2006. It has its headquarters in Berkshire and employs in total around 600 core staff there and at its other operating company sites in Bristol, Cambridgeshire, Devon, Lincolnshire, Somerset, Surrey and Scotland.
