Leading manufacturer of air-to-air refuelling systems, environmental systems, and actuation primarily for defence markets, Cobham Mission Systems has announced the acquisition to power management company, Eaton.
Eaton will pay $2.83 billion for Cobham Mission Systems, inclusive of $130 million in tax benefits.
“Cobham Mission Systems’ highly complementary products and strong position on growing defense platforms will enhance our fuel systems business and position our Aerospace business for future growth,” said Heath Monesmith, president and chief operating officer, Industrial Sector, Eaton. “We look forward to welcoming Cobham Mission Systems to Eaton.”
The acquisition, which is subject to customary closing conditions, is expected to close in the second half of 2021.
Eaton’s mission is to improve the quality of life and the environment through the use of power management technologies and services. We provide sustainable solutions that help our customers effectively manage electrical, hydraulic, and mechanical power – more safely, more efficiently, and more reliably. Eaton’s 2019 revenues were $21.4 billion, and we sell products to customers in more than 175 countries.