Cobham plc. has acquired an additional 22.74 percent share in Denmark-based satellite communications firm Thrane & Thrane and now owns approximately 25.6 percent of that firm’s issued share capital.
The British aerospace, defense and security firm announced Thursday it purchased the new shares from Jupiter Asset Management Limited at an estimated $73.73 cash per share.
Cobham said it made the deal soon after it withdrew an offer to buy Thrane & Thrane for $73.73 per share in March when Thrane & Thrane’s board “felt unable to recommend its proposal.”
Thrane & Thrane’s chairman stepped down on March 26, spurring institutional investors to consider selling their shares, Cobham said.
Cobham said at the time that its growth strategy includes technology investments and confirmed it views the Danish company’s position in the SATCOM market as a growth opportunity.
In November, Coham shed its analytics practice, known as SPARTA Inc., to Parsons in a $350 million deal.
SPARTA designs and develops weapons systems with a focus on network-centric, space, tactical and missile defense systems.
