StockMarketWire.com - Cobham has taken over Axell Wireless, a privately-owned supplier of wireless communications for commercial and public safety markets, for a total consideration of up to £85m on a cash and debt-free basis.

Cobham has paid an initial £60m for the business, with a further conditional cash consideration of up to £25m in total being payable during 2014 and 2015, contingent on future performance.

Axell is a leading global provider of distributed antenna systems (DAS) and wireless solutions for the public safety and cellular markets, with a specific focus on communication systems for buildings and critical infrastructure applications.

It has supplied coverage solutions for some high profile global infrastructure projects including the London 2012 Olympic Stadium, the Beijing and Singapore metros, the Burj Khalifa in Dubai, the Brisbane Airport tunnel and the Shard in London.

The company designs, develops and supplies innovative technology products including digital repeaters, fibre optical master units, multi band remotes and network management tools all of which are complementary to the technology in Cobham's existing antenna systems and tactical communications and surveillance businesses.

Cobham chief executive Bob Murphy said: "Axell operates in an exciting and growing global market, bringing complementary technology to our existing businesses. This transaction, following the acquisition of Thrane & Thrane in 2012, represents another step towards achieving our strategic objective of bringing more balance to our portfolio."




At 8:29am: [LON:COB] Cobham share price was +1.8p at 272.3p



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