Private equity firm Advent International has agreed to pay approximately $4.99B, including debt, for U.K.-based aerospace and defense contractor Cobham , Financial Times reported Wednesday . The price of the deal represents a premium of nearly 35 percent over the Wednesday closing stock price of Cobham.
Cobham produces electronic, communications and mission systems designed for space, land, maritime and airborne applications. The company reported $2.3B in revenue and $149.7M in after-tax profit for 2018.
Boston-based Advent has managed assets worth a total of $36B as of March 31, according to the global investment company .
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