LONDON (dpa-AFX) - Chemring Group PLC (CMGMF, CMGMY), a defence company, on Monday announced that it has entered into a conditional acquisition of Landguard Nexus Ltd. for up to 20 million pounds.
After completion of the deal, 14 million pounds cash payment will be made, and the consideration also involves a deferred payment of up to 6 million pounds.
The acquisition is expected to help increase the growth of its Roke business.
Chemring expects the deal to marginally add to earnings in the year ending 31 October 2026.
The company said that Landguard's current owners will stay with Chemring after the acquisition.
By bringing together Roke's Cyber and Electromagnetic Activities and Landguard's advanced radio technology, Chemring expects to offer a strong UK-made range of products for defence, security, and law enforcement.
The products can also help grow its large international sales pipeline, worth over 300 million pounds.
Landguard, based in Fareham, Hampshire, makes and supports advanced radio systems and security products used by defence, government, and law enforcement to protect important operations. Its products include tracking systems that work over satellite, mobile, and other radio networks, as well as flexible radios that can be updated to meet modern standards.
Chemring is known for making advanced technology products and providing services for the defence, security, and aerospace sectors. With around 2,700 employees and production sites in four countries
On Friday, Chemring closed trading, 1.03% lesser at $7.68 on the OTC market.
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