Cobham — Merger or Acquisition (May 2008)
10 slides from Cobham's merger presentation, May 13, 2008
Slide 1: Acquisition of M/A-COM
Acquisition of M/A-COM 13 may 2008 2007 Preliminary Results 1 v3
Slide 2: Transaction Overview
Transaction Overview Cash consideration of $425m with effective price of $380m after allowable tax expense relating to goodwill amortisation Aerospace & defence represents just under 40% of M/A-COM revenue of $477.7m, with typical DoD margins Intend to accelerate IRAD/PV investment to increase growt
Slide 3: M/A-COM Background
M/A-COM Background One of the world’s most recognised and trusted brand for microwave and millimeter wave semiconductors, components and subsystems solutions Proven track record through 50+ year heritage of providing innovative product design and manufacturing solutions to the world’s leading OEMs B
Slide 4: M/A-COM Overview
M/A-COM Overview PRODUCTS MAJOR MARKETS / SEGMENT APPLICATIONS A&D Components - Amplifiers, Missile, Electronic Warfare ("EW"), Mixers, Switches Radar, Communications, Space Missile, Guided Munitions, EW, A&D Microwave Subsystems Radar, Force Protection Space ADS A&D Components and Subsystems Signal
Slide 5: Aerospace & Defence Footprint
Aerospace & Defence Footprint Lowell, MA San Jose, CA Products: A&D, Semi, Infra., Auto., RFID Activities: Mgmt, Design, Assy., Test, Manu. Products: A&D Subsystems, Comp. Employees : 1,046 (shared site) Activities: Mgmt, Design, Assy., Test Employees : 309 Milton Keynes, UK Products: A&D Subsystems
Slide 6: Aerospace and Defence Product Overview
Aerospace and Defence Product Overview SUBSYSTEMS • High-performance, highly-integrated subsystems for missiles (guidance and fusing) and EW (receivers and transmitters) • Affordable T/R (Transmit/Receive) modules for phased array radar • Subsystems and systems for Force Protection applications Prod
Slide 7: Major Aerospace and Defence Programmes
Major Aerospace and Defence Programmes Programme/ Ship Set 2008 2009 2010 2011 2012 2013 2014 2015 Platform Value $ AMRAAM-C $40k → → → → → → → → AMRAAM-D $100k → → → → → → → → Missiles STANDARD MISSILE $25k → → → → → → → → ESSM $25k → → → → → → → → PAC-3 $10k → → → → → → → → JAGM $5k → → → MMA $35k
Slide 8: Major Aerospace and Defence Customers
Major Aerospace and Defence Customers 8
Slide 9: Driving Growth
Driving Growth Vision To be the most trusted global partner for leading edge aerospace and defence technologies Strategic Objectives 1 Be a leading subsystems supplier with a comprehensive range of distinctive technologies 2 To be in the top three in each of our chosen markets 3 Grow faster organica
Slide 10: Summary
Summary Purchasing one of the largest Original Equipment Manufacturers of microwave subsystems in the world M/A-COM has been an acquisition target for many years It is a great strategic fit – highly complementary and a significant step forward in the execution of our strategy Excellent opportunities