Cobham plc has acquired the entire share capital of Axell Wireless Limited, a privately-owned supplier of wireless communications for commercial and public safety markets, for a total consideration of up to £85m on a cash and debt-free basis.
Cobham has paid an initial £60 million for the business, with a further conditional cash consideration of up to £25m in total being contingent on performance in 2013 and 2014.
A team from Burges Salmon, which was led by partner Chris Godfrey with assistance from senior associates Jennifer Myram and Ian Carnochan and associate James Pinney, advised Cobham on the deal and included specialist multi-disciplinary advice from the firm's Corporate, Tax, Competition, Real Estate, Private Client, Banking and Commercial teams.
Axell is a leading global provider of Distributed Antenna Systems and wireless solutions for the public safety and cellular markets, with a specific focus on communication systems for buildings and critical infrastructure applications. It has supplied coverage solutions for some high profile global infrastructure projects including the London 2012 Olympic Stadium, the Beijing and Singapore metros, the Burj Khalifa in Dubai and The Shard in London.
Chris Godfrey said: “We were delighted to work with the Cobham team and to be part of this strategically important transaction for its business.'