U.K.'s Chemring acquiring sensor-maker

FAREHAM, England, Aug. 11 (UPI) -- Britain's Chemring Group PLC has entered a conditional agreement to acquire the issued share capital of an electronic warfare systems manufacturer.

Purchase of the entire issued share capital of Roke Manor Research Limited from Siemens Holding Plc would be about $86.8 million, Chemring said.

"The acquisition of Roke will substantially enhance our existing technologies in a number of our key market sectors and will provide a growing number of products and technologies that will allow the group to enter adjacent attractive, high-growth markets," Chemring Chief Executive Officer David Price said. "I am delighted that all of the existing highly successful Roke management team will remain with the company."

Roke products include electronic countermeasures, electronic intelligence gathering systems, threat detection and target location systems. It also provides counter-improvised-explosive-device capabilities for force protection and is a key player in the emerging cybersecurity market, Chemring said.

In the audited year that ended Sept. 30, 2009, Roke reported revenue of $71.5 million, underlying operating profit before non-recurring costs of $5.5 million and underlying profit after tax, including research and development credits, of $ 6.1 million.