TransDigm Group To Buy Cobham Aero Connectivity For About $965 Mln In Cash

(RTTNews) - TransDigm Group Inc. (TDG) said that it agreed to acquire Cobham Aero Connectivity for about $965 million in cash, including tax benefits.

Cobham Aero Connectivity, which is headquartered in Marlow, UK, is a provider of highly engineered antennas and radios for the aerospace end market. It is expected to generate about $225 million in revenue in 2020. The company operates from two primary facilities in Marlow, UK and Prescott, Arizona. It employs about 760 people.

The acquisition is expected to close during the first calendar quarter of 2021, and to be financed through existing cash on hand.

In an update on potential divestitures of former Esterline operating units, TransDigm said it is now working with outside advisors to assist in the process of identifying and approaching potential buyers. At this time, the timeline for any announced divestitures remains uncertain.