The French defence and technology group Thales has entered into an exclusive negotiation to acquire Cobham Aerospace Communications for USD 1.1 billion from the private equity owner, Advent International.
Cobham Aerospace Communications is based in Paris, has 690 employees and operates in France, South Africa, USA, Canada and Denmark. Cobham Aerospace Communications supplies both the civil and military aircraft markets with products such as digital audio-radio management systems and satcom as well as antennas, lighting and clocks, and is expected to generate USD 200 million in revenues in 2023.
The transaction will strengthen Thales’s avionics portfolio and is expected to close in the first half of 2024 subject to completion of customary merger control and regulatory approvals.
Accura advised Advent in connection with the Danish part of the transaction. Accura also assisted Advent with the Danish matters related to the takeover of the Cobham Group in 2020.