MMI Research has been acquired by Cobham plc
Cutting-edge military and intelligence technology business MMI Research has been purchased by acquisitive UK defence group Cobham plc in a deal worth up to 16.6m orchestrated by Arrowpoint Advisory.
MMI operates at the forefront of the Law Enforcement and National Security (LENS) markets, specialising in niche cellular telecommunications capabilities. MMI serves law enforcement, military and intelligence agency customers world-wide. Based in Hampshire, UK, MMI employs 20 people and will become part of the Cobham Avionics and Surveillance Division.
Graham Carberry, Director at Arrowpoint Advisory commented: "It is an excellent technological fit with Cobham's existing LENS capabilities and provides equipment to a number of Cobham's existing customers as well as broadening the customer base for the group."
Steve Callaghan, MMI's Chief Executive, said: "We think the fit with Cobham is absolutely terrific; one will bring a new capability to our growing sector as well as a wider geographic presence from which to serve our customers. The deal strengthens our business enormously and our customers will be delighted."
The deal represents another success for Arrowpoint Advisory's in the Defence sector, where it focuses on advising the shareholders of mid-market defence, security and intelligence-enabling businesses.