Sale completion of SEA's Space Division

RNS Number : 1014J

Cohort PLC

09 June 2014

 



9 June 2014

Cohort plc

("Cohort" or "the Group")

Disposal

Sale completion of SEA's Space division to Thales Alenia Space UK

Further to the announcement on 1 May 2014, Cohort plc, the independent technology group, is pleased to announce that its subsidiary SEA has completed the sale of its Space business to Thales Alenia Space UK Ltd, a subsidiary of Thales Alenia Space.

Ends

For further information, please contact

Cohort plc	Andrew Thomis, Chief Executive Simon Walther, Finance Director	[phone]
Investec	Keith Anderson, Daniel Adams	[phone]
MHP Communications	Reg Hoare, Vicky Watkins, Ben Griffiths	[phone] [e-mail]

Cohort plc (www.cohortplc.com) (@Cohortplc)

Cohort is an independent technology group working primarily for defence (air, land and sea), wider government and industry clients, through three market-facing subsidiary companies:

Ÿ MASS(www.mass.co.uk) - a specialist systems house with considerable experience in the defence market and a focus on information systems. Based in Cambridgeshire, MASS was acquired by Cohort in August 2006;

Ÿ SCS(www.scs-ltd.co.uk) - a defence technical advisory business, combining technical expertise with practical experience and domain knowledge. Owned by Cohort since flotation in March 2006;

Ÿ SEA(www.sea.co.uk) - an advanced surveillance systems and software house with hardware development capability operating in the defence and transport market sectors. Acquired by Cohort in October 2007.

Cohort (AIM: CHRT) was admitted to London's Alternative Investment Market in March 2006. It has its headquarters in Berkshire and employs in total around 500 core staff there and at its other operating company sites in Bristol, Cambridgeshire, Lincolnshire and Somerset.

Thales Alenia Space is a joint venture between Thales (67%) and Finmeccanica (33%), is a key European player in space telecommunications, navigation, Earth observation, exploration and orbital infrastructures. Thales Alenia Space and Telespazio form the two parent companies' "Space Alliance", which offers a complete range of services and solutions. Because of its unrivaled expertise in dual (civil/military) missions, constellations, flexible payloads, altimetry, meteorology and high-resolution optical and radar instruments, Thales Alenia Space is the natural partner to countries that want to expand their space program. The company posted consolidated revenues in excess of 2 billion euros in 2013, and has 7,500 employees in six countries. www.thalesaleniaspace.com

 

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