English aerospace firm acquires Baltimore surveillance specialists
Final purchase price could be as high as $24 million
- By David Hubler
- Feb 07, 2011
Cobham PLC of Dorset, England, a developer of advanced aerospace and defense systems, has crossed the pond to acquire Corp Ten International Inc., a small Baltimore-based surveillance technology company, for an initial payment of $11.5 million on a debt- and cash-free basis.
An additional cash consideration is payable of up to $12.5 million between 2012 and 2014, contingent on future performance, according to the Cobham announcement released today.
Corp Ten develops software to manage multiple tracking and surveillance devices in a single system, which allows real-time sharing of data and other communications between users through satellite, cellular and radio frequency providers.
In addition, its products complement Cobham’s existing range of audio and video surveillance products, creating a good opportunity to increase revenue by offering a wider range of equipment to an expanded customer base, the statement said.
“Together with the recent acquisitions of RVision Inc. and Telerob GmbH, [Corp Ten] further enhances our ability to supply complete solutions to defense, security and commercial customers around the world,” Cobham CEO Andy Stevens said in the announcement.
Corp Ten’s 14 employees will become part of the surveillance business, within Cobham’s Avionics and Surveillance Division.
David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.