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Cobham buys Germany's Telerob

Jan. 20, 2011 at 11:18 AM

WIMBORNE MINSTER, England, Jan. 20 (UPI) -- Britain's Cobham Plc has acquired Telerob GmBH, a German manufacturer of advanced bomb disposal robots and threat response vehicles.

Cobham said it purchased the capital share in the privately owned company for about $104.9 million.

Telerob, which has headquarters in Ostfildern, Germany, makes medium- and heavy-weight Explosive Ordnance Device robots and response vehicles designed to deal with nuclear, biological and chemical threats, primarily for homeland security markets.

The company has more than 700 systems in 55 countries, with many systems in operation in Asia and the Middle East.

Cobham said it will be able to integrate its technology into Telerob systems, including communications equipment and sensors that it already provides for the EOD market, along with specialist cameras manufactured by another recently acquired company, RVision.

The acquisition is being funded from Cobham's existing cash resources. The company said the consideration comprises $100.9 million payable in cash on completion on a debt and cash-free basis and a seller's note from certain shareholders for the balance, which will be repayable in installments on the first, second and third anniversary of completion.

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