Business
Acquisition of Abacus EW Cons
Acquisition of Abacus EW Cons.
About this update from Cohort Plc
[{"type":"text","content":"\n RNS Number : 0025M Cohort PLC 17 May 2010 \n \n\n17 May 2010 AIM: CHRT\nPRESS RELEASE\n \nCOHORT PLC (\"Cohort\")\n \nAcquisition of Abacus EW Consultancy Ltd (\"Abacus EW\")\n \nCohort, the independent technology group, today announces that MASS Consultants Ltd (\"MASS\"), its wholly-owned subsidiary, has acquired the entire share capital of Abacus EW Consultancy Limited. There will be an initial cash consideration of £1.0m payable on completion and a further performance-related cash consideration of up to £1.8m over three years. The acquisition will be funded from Cohort's internal cash resources and is expected to be earnings enhancing in the current year before amortisation of acquired intangible assets.\n \nAbacus EW\nBased in Wellingore near Lincoln, Abacus EW provides consultancy services and training in communications and radar electronic warfare (EW) to UK and overseas customers, primarily in the land and maritime environments. The training offered is operationally-focused and uses state-of-the-art simulation tools. The company has also recently launched an innovative EW training & planning software tool.\n \nAcquisition Rationale\nCohort's immediate focus is on improving operational performance. However, we continue to look at any opportunities for bolt-in acquisitions which strengthen our existing businesses. Abacus will be integrated within MA...