Military Procurement International Vol. 19, No. 9, May 1, 2009
Copyright DAPSS S.A., 200
9, Switzerland. It is unlawful to reproduce any of this publication without written permission from the publisher.
UNITED STATES
Cobham
to acquire Argotek Inc.
The UK’s Cobham
plc announced on April 6 that it had reached agreement to buy the share
capital of US-based Argotek Inc., a
privately owned company, for US$36.25 million. The consideration comprises
US$26.25 million payable in cash and a seller’s note of US$10 million which
will be payable in instalments on the first, second and third anniversaries of
completion.
Subject to the approval of
the Committee on Foreign Investment in the United States (CFIUS), the
acquisition of Argotek is expected to complete by end-June 2009.
Argotek provides high-end
information assurance services to the US intelligence community. It has a
skilled workforce of 70 professional information assurance experts, all of whom
possess US security clearances and who are based at customer locations. The
company is an excellent fit within the National
Security Systems Sector of Cobham
Analytic Solutions (formed last year by the acquisition of Sparta),
adding technical depth and expertise, as well as expanded customer
relationships.
Its core competences will be in demand for critical programs, including the Comprehensive National Cyber Initiative, a major, Government-wide effort to strengthen US defences against electronic attack.