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  • Friday, April 19, 2024

Cobham Completes $1B Aeroflex Buy; Bob Murphy Comments


Robert-Murphy
Bob Murphy

Cobham plc has finalized its approximately $1.46 billion acquisition of Aeroflex (NYSE: ARX) after shareholders and regulatory bodies approved the transaction.

Following the completed transaction, the Aeroflex business will be consolidated with the British defense contractor’s advanced electronic solutions division and communications and connectivity business group.

Cobham said Monday it expects the acquisition to boost the company’s current 35 percent revenue to about 42 percent pro forma and bring in synergy advantages in the areas of connectivity, space and microelectronics, which the company says are some of Aeroflex’s profitable ventures.

Cobham CEO Bob Murphy said the company made the deal as part of its strategy of “maintaining leading positions in selected higher growth, commercially oriented end markets that increasingly demand more data, connectivity and bandwidth.”

New York-based Aeroflex produces RF and microwave integrated circuits and components for wireless communication products.

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