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Cobham announces divestments to pay down debt

02 February 2018

Troubled UK aerospace and defence equipment manufacturer Cobham announced on 2 February that it was divesting its AvComm and Wireless test and measurement businesses.

The two businesses are to be sold to US company Viavi Solutions for an all-cash consideration of USD455 million.

AvComm is based in Wichita, Kansas, and provides test, monitoring, and control systems for radio and avionics testing, while the UK-based Wireless business provides validation tools for mobile and IP networks. Both are part of Cobham’s Communications and Connectivity business line.

In a statement to the London Stock Exchange, Cobham officials said the divestment would allow the company to: simplify its portfolio of technologies and capabilities by focusing on the defence, aerospace, and space markets; reduce the company’s risk profile in areas where there was little overlap with other customers or technology capabilities offered by the company; and strengthen the company’s balance sheet.

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