Cohort plc, the UK-based technology group acquired 56.89% of the share capital of EID, on 27 June 2016. The acquisition is from existing shareholders EFACEC Capital S.G.P.S. S.A and Rohde & Schwarz GmbH.
Cohort is an independent technology group working primarily for defence (air, land and sea), wider government and industry clients, through (up to now) four market-facing subsidiary companies: MASS, MCL, SCS and SEA.
EID will join these subsidiary businesses as the fifth member of the Cohort Group. Cohort has agreed in principle to acquire a further stake from two agencies of the Portuguese Government on the same terms, such that its final holding in EID will be 80%. Timing and completion of this further transaction is dependent on the necessary approvals from the Portuguese government, which will be further announced.
“This acquisition marks a significant step in EID’s history. We are very pleased to become a part of Cohort’s group, where we truly believe together we can trace a fruitful path in the defence market, by exploring synergies within the group”, states António Marcos Lopes, Managing Director of EID.