Brit-based Cobham makes another U.S. play
- By Nick Wakeman
- Apr 09, 2009
The British defense and government services contractor Cobham plc is seeking another investment in the U.S. market with its planned acquisition of Argotek Inc.
The $36.25 million deal is expected to close by June 30, the company said.
Argotek provides information assurance services to U.S. intelligence agencies. The company has about 70 employees, all with security clearances. They work primarily at customer sites.
The acquisition will become part of Cobham Analytic Solutions, the U.S. business Cobham established when it acquired Sparta Inc. in June 2008.
Before the deal closes, the Committee on Foreign Investment in the United States must approve it.
“Argotek will strengthen our customer relationships in the growing U.S. intelligence market, where cybersecurity is of critical national importance,” said Allan Cook, Cobham’s chief executive officer.
The deal includes $26.25 million in cash at closing and $10 million payable in installments on the first, second and third anniversaries of the deal.
Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.