Cobham Divests Nonmoaty Wireless Assets for GBP 325 Million to Reduce Debt and Complexity
In line with expectations, Cobham announced its intention to sell AvComm and its wireless test and measurement businesses to Viavi Solutions for GBP 325 million in an all-cash deal, with expected completion in first-half 2018 (subject to U.S. Hart-Scott-Rodino antitrust clearance). We view both units as nonmoaty businesses (part of Cobham’s communication and connectivity sector and approximately 10% of group sales), due to a combination of strong price competition, short economic life, low barri...Cobham provides technologies and services across its defense, aerospace and space markets. Co. has four sectors: Communications and Connectivity, which provides equipment and solutions to enable connectivity across a range of environments in aerospace, avionics, satellite and radio, wireless and mobile connectivity markets; Mission Systems, which provides safety and survival systems, aerial refueling systems and wing-tip to wing-tip mission systems; Advanced Electronic Solutions, which provides solutions for communication on land, sea, in the air and in space through off-the-shelf and customized products; and Aviation Services, which provides outsourced aviation services.
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