TransDigm to acquire Cobham Aero Connectivity

TransDigm Group said today it has agreed to acquire Cobham Aero Connectivity for about $965 million.

Cobham Aero Connectivity, which is headquartered in the United Kingdom and has about 760 employees, provides highly engineered antennas and radios with "a strong presence across major defense platforms," according to TransDigm.

"Nearly 60% of CAC's revenue is derived from international sales, and the Company has a strong presence across a diverse range of both helicopters and fixed-wing aircraft," TransDigm added. "The Company operates from two primary facilities in Marlow, UK and Prescott, Arizona."

Its customers include Airbus, Boeing, Raytheon Technologies, Leonardo and Elbit, TransDigm said. The deal is slated to close early next year.

Additionally, TransDigm said today it is working with outside advisers to help identify potential buyers for businesses it acquired through purchasing Esterline Technologies in 2019.

"These operating units primarily serve the defense end market and have combined annual revenue of $250 [million] to $300 million," the company said. "At this time, the timeline for any announced divestitures remains uncertain."